Cargotec – whose brands include Kalmar, Hiab and MacGregor – is making changes to its business model with plans to exit the heavy port cranes segment.
Earlier this week, HLPFI reported that the merger between Cargotec and Konecranes had been cancelled following the UK Competition & Markets Authority’s decision to block the deal. Since then, Cargotec has said that it plans to “refocus its strategy for higher financial performance through sustainability and growth in profitable core businesses”.
This involves evaluating the potential sale of MacGregor, which supplies maritime cargo and load handling products. The assessment covers the whole business area, including its merchant, offshore and services businesses.
Cargotec will also shift Kalmar’s focus towards mobile solutions and will start planning an exit from the heavy port cranes business. Going forward, Kalmar would offer eco-efficient cargo handling equipment and lifecycle services in the mobile equipment product categories, straddle and shuttle carriers as well as Bromma spreaders.
Hiab, which provides on-road load handling equipment, will be at the core of Cargotec’s new strategy. Its business portfolio will remain the same but Cargotec plans to further accelerate the development of Hiab’s merger and acquisition (M&A) pipeline.
These planned actions are subject to normal local legal requirements and works council consultations, said Cargotec.