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Provider: Reuters Investment Profile

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Cargotec Oyj Plans to Spin-off of Marine Unit-Reuters

Wednesday, 22 May 2013 03:57am EDT 

Reuters reported that Cargotec Oyj’s Chief Executive Officer announced that the Company’s marine unit will be ready to run independently by the end of the year 2013 and can list in Singapore any time after that. The exact timing of the Initial Public Offering for the MacGregor unit, which makes hatch covers and cranes for ships, depends on a recovery in market conditions.