Around 260 staff working for ship equipment manufacturer MacGregor face the chop as parent Cargotec from Finland goes about a EUR25m cost cutting exercise.
“MacGregor’s market situation is challenging,” Cargotec noted in a release today. “In the offshore industry, the low price of oil keeps investments at an unprecedentedly low level, which affects the demand for offshore load handling solutions. The demand for service has declined as parts from decommissioned ships are increasingly being used as spare parts. There is overcapacity on global merchant ship markets, and orders for new vessels are at an exceptionally low level, which decreases the demand for MacGregor’s products and solutions.”
Michel van Roozendaal, president of MacGregor, commented: “As a result of these difficult but necessary actions MacGregor will become more agile.”