CARGOTEC CORPORATION, PRESS RELEASE, SEPTEMBER 2016
MacGregor acquires majority shares of Flintstone Technology Ltd. to further strengthen its advanced technology offering in offshore solutions.
MacGregor, part of Cargotec, has acquired 51% of the shares of the privately owned company Flintstone Technology Ltd. Flintstone is a small and dynamic company specialising in advanced technology and innovative products primarily within the mooring and fluid handling business. The deal was closed on 22 September 2016.
“Offshore operators and field owners are looking for cost and weight optimized technologies in order to be more efficient. Flintstone has developed several products that reduce offshore installation time, bring weight savings onboard the floaters, and in some cases even contribute to more safe operations,” says Høye Høyesen, Vice President, MacGregor Advanced Offshore Solutions. “Our ownership stake in Flintstone is a good fit for providing these solutions together. Flintstone’s offering compliments MacGregor’s portfolio in the offshore segment and also expands our existing product portfolio into new market areas,” Mr Høyesen continues.
“We are very happy to join MacGregor. We are a small team with competent and innovative engineers. We see great potential to add value for customers. We like to challenge existing solutions and look for ways to improve, just what MacGregor is known for doing. Becoming part of a bigger company also brings many benefits, both for our customers and employees”, says Andrew Clayson, Managing Director, Flintstone Technology Ltd.’
Flintstone Technology Ltd., started in 2012 as a product design consultancy and completed several significant projects developing our own, first product in 2013, the buoy turret connector. The company is based in Dundee, Scotland and has twelve employees.
For more information please contact:
Høye Høyesen, Vice President, Advanced Offshore Solutions, MacGregor
tel. + 47 907 610 98, Email: email@example.com
Heli Malkavaara, Senior Communications Manager, MacGregor,
tel. + 358 20 777 4500, Email: firstname.lastname@example.org
MacGregor shapes the offshore and marine industries by offering world-leading engineering solutions and services with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes and Triplex brands. Shipbuilders, owners and operators are able to optimise the lifetime profitability, safety, reliability and environmental sustainability of their operations by working in close cooperation with MacGregor.
MacGregor solutions and services for handling marine cargoes, vessel operations, offshore loads, crude/LNG transfer and offshore mooring are all designed to perform with the sea.
MacGregor is part of Cargotec. Cargotec’s (Nasdaq Helsinki: CGCBV) sales in 2015 totalled approvimately EUR 3.7 billion and it employs over 11,000 people. www.cargotec.com