MacGregor to be based in Singapore
Feb. 12, 2013
by World Grain Staff
HELSINKI, FINLAND — Cargotec’s board of directors decided at its meeting on Feb. 11 to base its MacGregor business unit in Singapore.
Cargotec said it continues to plan for a separate listing of MacGregor subject to market conditions.
Singapore provides a strong base for marine and offshore industries with several listed marine companies. This will enable MacGregor to develop its entire value chain, including services.
"Due to its closeness to our Asian customers and partners, we are confident that Singapore is the best location for the domicile. Since more than 70% of MacGregor's sales are already generated in Asia-Pacific, we feel that establishing our domicile in Singapore would represent a natural development for our operations," said Mikael Mäkinen, president of MacGregor.