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2016-10-18

Cargotec Corporation: Short delivery times and proven performance secure new deck machinery contracts for MacGregor

CARGOTEC CORPORATION, PRESS RELEASE, 18 OCTOBER 2016 AT 9.30 AM EEST

MacGregor, part of Cargotec, has won deck machinery orders for six 64m anchor
handling tug supply (AHTS) vessels being built for long-term charter in the
Middle East to Saudi Aramco. The order is booked in Cargotec's 2016 third
quarter order intake.

"MacGregor won the contract because of our proven track record in this market
segment where our equipment is well-received both by the owners and
operators," says Esko Karvonen, Head of Smart Ocean Technology division,
MacGregor. "Additionally, we have close working relationships with this
shipowner and the ship designer."

The urgency of the project and the tight deadlines imposed intense, focused
technological discussions. "Excellent cooperation between the shipowner, the
ship designer and MacGregor's relevant expert divisions ensured the project's
successful start," Mr Karvonen adds.

MacGregor was awarded the contract by PaxOcean Engineering to supply six sets
of deck machinery, each including a 150-tonne anchor handling and towing
winch, shark jaws, towing pins, auxiliary winches and ancillary equipment.
The equipment will be delivered in stages to the shipyard in Zhuhai, China,
one of six shipyards operated by the Singapore-based PaxOcean group. Work is
expected to commence at the end of 2016 and the vessels are scheduled for
delivery starting during third quarter 2017.

The vessels are designed by Conan Wu Enterprises and owned by Singapore-based
PACC Offshore Services Holding Limited (POSH).

For more information please contact:

Esko Karvonen, Head of Smart Ocean Technology division, MacGregor,
tel. +65 9839 2425, Email:esko.karvonen@macgregor.com

or

Heli Malkavaara, Senior Communications Manager, MacGregor Group, tel. +358 20
777 4500, Email:heli.malkavaara@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
alldesigned to perform with the sea
.www.macgregor.com

MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in
2015 totalled approximately EUR 3.7 billion and it employs over 11,000
people.www.cargotec.com

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cargotec Corporation via Globenewswire

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