Cargotec's MacGregor secures new subsea crane contract worth EUR 23 million

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE 5 FEBRUARY 2014 AT 10 AM (EET)

MacGregor, part of Cargotec, has won an order worth around EUR 23 million for six active heave-compensated (AHC) subsea cranes from the Dutch IHC Merwede.  The cranes will be installed on three pipe-laying ships destined for the UK-headquartered global offshore specialist, Subsea 7. Delivery of the cranes is scheduled between June and December 2015.

The new series builds on others under construction at the IHC Merwede yard for Subsea 7, including the 146m vessel, Seven Waves, which will also be fitted with a MacGregor subsea crane and is scheduled for delivery this year.

The latest vessels, hulls 731, 733 and 735, will each be fitted with one 100-tonne SWL and one 25-tonne MacGregor AHC subsea cranes, designed to operate at  depths of 3,500m and 3,000m respectively.

Further information for the press:
Tom Harald Svennevig, Vice President, MacGregor, Advanced Load Handling, Offshore, tel.+47 909 42 330
Heli Malkavaara, Communications Director, MacGregor, tel. +358 2 4121 252,
heli.malkavaara@macgregor.com

Further information for investors:
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084

Cargotec shapes the cargo handling industry for the benefit of its customers and shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Their global network is positioned close to customers and offers extensive services that ensure a continuous, reliable and sustainable performance according to customers' needs. 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