MacGregor swings axe in Germany pushed by low oil price

MacGregor, part of Cargotec, plans to reduce its workforce by 100 in MacGregor Uetersen site in Germany in order to restructure the operations to the weak market demand.

In a press release issued Thursday, MacGregor said that the market situation had deteriorated due to the low oil price and low number of new merchant ship orders.

“Ensuring competitiveness in the long-term over the current market cycle requires constant development of MacGregor’s operations globally,” the company said.

MacGregor is planning to start capacity adjustment measures which are estimated to have an impact on approximately 100 employees at MacGregor Hatlapa GmbH & Co. KG in Uetersen by the end of 2015. The company says that the target is to reach annual savings of EUR 7 million ($7.9 million) as of 2016.

The initiated measures are estimated to create restructuring costs of EUR 5 million in 2015.

MacGregor Hatlapa delivers winches, steering gear and compressors.

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply