Cargotec Continues Expansion into Offshore by Acquiring Plimsoll

Cargotec’s MacGREGOR business area providing marine cargo handling solutions has signed an agreement to acquire Plimsoll Corporation Pte Ltd. Plimsoll is based in Singapore and is a leading company in deck machinery for the offshore oil and gas, and marine industry in the Asia-Pacific region. Cargotec will acquire 90% of the company with the remaining shares being owned by employees. The deal is expected to be closed by the end of April.