CARGOTEC CORPORATION, PRESS RELEASE 25 FEBRUARY 2014 AT 9 AM (EET)

MacGregor, part of Cargotec, has secured an order from Wuchang Shipbuilding Industry for a 100-tonne SWL active heave-compensated subsea crane. The MacGregor crane will be installed on the anchor handling tug supply (AHTS) vessel, currently under construction for the offshore specialist, China Oilfield Services Limited (COSL).

Wuchang Shipbuilding Industry, a subsidiary of one of China's largest shipbuilders, China Shipbuilding Industry Corporation (CSIC), plans to deliver the Rolls-Royce UT788-design vessel in March 2015.

Once operational, the vessel will perform offshore services in the South China Sea. It will also have the capability to carry out deepwater and ultra-deepwater work in other offshore areas such as Brazil, West Africa, the Gulf of Mexico and the North Sea.

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For further information please contact,
Tom Harald Svennevig, Vice President, MacGregor, Advanced Load Handling, Offshore, tel.+47 909 42 330
or
Heli Malkavaara, Communications Director, MacGregor, tel. +358 2 4121 252
heli.malkavaara@macgregor.com

MacGregor is the world's leading brand of engineering solutions and services for handling marine cargoes and offshore loads. MacGregor products serve the maritime transportation, offshore and naval logistics markets, in ports and terminals as well as on board ships. Our cargo flow solutions integrate cargo access, stowage, care and handling functions to suit a particular ship's cargo profile. This benefits its productivity, environmental impact and profitable service lifetime. www.macgregor.com     

MacGregor is part of Cargotec. Cargotec's sales totalled approximately EUR 3.2 billion in 2013 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com