Cargotec has entered into an agreement to sell MacGregor, the own brand of equipment and handling systems cargoes for ships and the offshore industry, a transfer that the group has been planning for over two and a half years after the abandonment of the of the merger project with the compatriot Konecranes blocked by the British antitrust authority ( of 30 March and 14 November 2022). The buyers are funds managed by the London-based Triton Investments Advisers and sale agreement assigns MacGregor was worth 480 million euros.

Cargotec specified that the sale will allow the group to support the future growth of Hiab, a brand of the company that markets lifting equipment for construction, transport and various sectors produced by the group and which will become the core Cargotec's business which has recently implemented, with effect since last June 30, the spin-off of its third brand, the Kalmar, active in the port and intermodal vehicle segment ( of 1 February 2024).

Confirming the intention to concentrate the activity of the group on Hiab, the board of directors of Cargotec has announced that it plans to propose to the Shareholders' Meeting of change the company name from Cargotec to Hiab. In addition the current president and CEO of Cargotec, Casimir Lindholm, has announced that he will leave his positions in conjunction with the change of company name, when it is expected that the Board of Directors will appoint Scott Phillips, implement president of Hiab, as president and CEO of the new Hiab. This transformation is expected to take place in the next first April, while the MacGregor sale procedure was expected to end by 1 July 2025 at the latest.

Recalling that MacGregor, which has about 1,800 employees, in the 2023 recorded a turnover of 733 million euros and a profit operating of 33 million, the CEO of Cargotec, Casimir Lindholm, pointed out that "the agreement for the sale of the of MacGregor represents the last significant milestone of our project to unlock shareholder value by separating Cargotec's activities into a company Autonomous. The two-year project - he specified - is progressed according to our plan and is now in its stages finals".