Cargotec Oyj : CSSC Nanjing Luzhou and MacGregor celebrate the opening of their first joint venture in China

CARGOTEC CORPORATION, PRESS RELEASE, 24 APRIL 2018 AT 9.30 AM EEST

MacGregor, part of Cargotec, and China State Shipbuilding Corporation's (CSSC) Nanjing Luzhou Machine Co., Ltd. (LMC) celebrated the opening of their first joint venture in Nanjing, China on April 10. CSSC LMC and MacGregor have established a solid foundation of trust through 30 years of successful cooperation. This joint venture turns the first page for a new era of a long-term strategic co-operation. The joint venture's business model and organisational structure were developed during 2017, and the business license was obtained in March 2018.

With common efforts from both parties, the joint venture will be gradually developed to be the center of excellence for air compressors. The cooperation will be expanded step by step to cover other suitable products in the future.
 
Sun Wei, Vice President, CSSC Group says: "This joint venture establishment is a new cooperation model between our companies who both operate in the challenging market conditions. CSSC Nanjing Luzhou and MacGregor have built a solid foundation through 30 years' friendly cooperation. The new joint venture will combine MacGregor's strengths in design, technology, management and global after-sales service with Nanjing Luzhou's strengths in domestic production and sales based on the scale and industry strength of the CSSC Group. By actively exploring effective and innovative ways of cooperation, we are together able to achieve a win-win situation and good market prospects for the joint venture.

Michel van Roozendaal, President, MacGregor says: "When looking at CSSC and MacGregor, we see two leaders joining forces. CSSC is the primary shipbuilding group in China, and well positioned as a global leader in the industry. MacGregor is the global leading expert of marine and offshore cargo and load handling solutions. This powerful combination will help us serving our customers even better than before. We shape the industry we operate in."

China is the biggest shipbuilding market in the world, and overall, the vast majority of global shipbuilding takes place in Asia. CSSC is the leading company in the leading market, and a very important cooperation partner for MacGregor who is determined to enhance its footprint in Asia and be closer to the customers, partners and key stakeholders.

Photo: from left to right: YANG Lianghu, General Manager, Binjiang Investment and Development Company;  WANG Hongqi, President, CSSC Nanjing Luzhou Marine Co., Ltd; SUN Wei, Vice President, CSSC Group, Michel van Roozendaal, President, MacGregor, Alexander Nürnberg, SVP R&D and Technology, MacGregor

Photo: SUN Wei, Vice President, CSSC Group (on the right) and  Michel van Roozendaal, President, MacGregor

For more information please contact:
Michel van Roozendaal, President, MacGregor
Tel. +65 8533 2742, Email: michel.van.roozendaal@macgregor.com
Jane Chen, Vice President, Head of China, MacGregor
Tel. +86 21 260 63110, Email: jane.chen@macgregor.com

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. www.macgregor.com

MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2017 totalled approximately EUR 3.2 billion and it employs over 11,000 people. www.cargotec.com

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