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MacGregor and CSSC sign LOI on strategic cooperation

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LNG Industry,

MacGregor has announced that it has signed a letter of intent (LOI) with China State Shipbuilding Corp. (CSSC) on strategic cooperation.

MacGregor, which is part of Cargotec Corp., claims that this cooperation will further strengthen its presence in Asia, especially China, which is the biggest shipbuilding market in the world.

The LOI relates to MacGregor’s planned acquisition of the marine and offshore businesses of TTS Group and future cooperation potential between the two groups. The acquisition is subject to regulatory approvals in China, Germany and South Korea, and MacGregor is expecting to receive these approvals by the end of this year.

In the statement, MacGregor claims that the mutual trust built between both companies during 30 years of partnership will be a good foundation for this latest chapter of strategic cooperation.

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