MacGregor to gain offshore footing with Hydramarine acquisition

MacGregor to gain offshore footing with Hydramarine acquisition    Swedish marine cargo handling engineering company MacGregor has signed an agreement with Vidar Robstad and Svein Erik Halvorsen, through Hydramarine Holding AS, to buy 90 percent of the shares in Norway’s Hydramarine AS.
   The remaining 10 percent will be owned by employees. No financial details of MacGregor’s purchase were disclosed.
   Established in 1977, Hydramarine had net sales in 2006 of Norwegian Krone 500 million ($81.5 million). It employs 150 people and focuses on the development of hydraulic and electrical deck machinery equipment. Its key products are large active heave compensated cranes to the offshore industry.
   “The acquisition widens our offering in the growing offshore vessel segment,” said MacGregor President Olli Isotalo. “The move towards deepwater in offshore is creating new opportunities for Hydramarine’s technology.”
   The deal is subject to competition authority approval.