MacGregor enters into strategic cooperation with CSSC

MacGregor and China State Shipbuilding Corporation (CSSC) have signed a letter of intent on strategic cooperation that will see MacGregor strengthen its presence in China.

The letter of intent relates to MacGregor’s planned acquisition of the marine and offshore businesses of TTS Group and future cooperation potential between the two groups.

The acquisition is subject to regulatory approvals in China, Germany and South Korea, and MacGregor is expecting to receive these approvals by the end of 2018.

Read more: MacGregor acquiring marine and offshore businesses of TTS Group

MacGregor said that the cooperation with CSSC will further reinforce its presence in Asia, specifically in China, the world’s biggest shipbuilding market.

“CSSC is a very important partner for MacGregor, as it is the primary shipbuilding group in China and well positioned as a global leader in the industry. The mutual trust built between MacGregor and CSSC during the 30 years of partnership will be a solid foundation for the new chapter of strategic cooperation,” MacGregor stated.

Posted 31 October 2018

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Lee Hong Liang

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Asia Correspondent Lee Hong Liang has joined Seatrade as its Asia Correspondent. Based in Singapore, he will provide a significant boost to daily coverage of the Asian shipping markets, as well as bring with him an indepth, specialist knowledge of the bunkering markets. Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and the ability to write hard news and feature stories.

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