Cargotec’s MacGREGOR business area providing marine cargo handling solutions has signed an agreement to acquire Vestnorsk Hydraulikkservice AS (VNH) from Norway. VNH is a service and turn-key system supplier to the offshore and marine industries. The acquisition is subject to competition authority approval.
”The recently acquired Hydramarine and Plimsoll have widened our offering in the growing offshore vessel segment. The acquisition of VNH will support them from a service point of view. At the same time it strengthens our North Sea service strategy. Last year we acquired Scottish Grampian Hydraulics which is specialized in hydraulics and spare parts service of offshore support vessels in the North Sea. The acquisition of VNH secures MacGREGOR service offering on both sides of the North Sea,” states MacGREGOR President Olli Isotalo.
The net sales of VNH are approximately EUR 5 million and the company employs 21 people. About 80 percent of its net sales derive from service, the rest from various hydraulic turn-key projects. Vestnorsk Hydraulikkservice AS is today owned by Vestnorsk Holding AS.
”The recently acquired Hydramarine and Plimsoll have widened our offering in the growing offshore vessel segment. The acquisition of VNH will support them from a service point of view. At the same time it strengthens our North Sea service strategy. Last year we acquired Scottish Grampian Hydraulics which is specialized in hydraulics and spare parts service of offshore support vessels in the North Sea. The acquisition of VNH secures MacGREGOR service offering on both sides of the North Sea,” states MacGREGOR President Olli Isotalo.
The net sales of VNH are approximately EUR 5 million and the company employs 21 people. About 80 percent of its net sales derive from service, the rest from various hydraulic turn-key projects. Vestnorsk Hydraulikkservice AS is today owned by Vestnorsk Holding AS.