MacGregor joint venture set up in Vietnam

Marine crane manufacturer MacGregor and Vietnam Shipbuilding Industry Group (Vinashin) have agreed a joint venture for the production of cranes and hatch covers.

MacGregor has a 49% stake and Haiphong, Vietnam-based Vinashin, holds the remainder. MacGregor is part of Cargotec Corporation, which owns Hiab and Kalmar and had net sales last year of Euro 2.6 billion.

MacGregor Vinashin Marine Equipment Ltd will concentrate on hatch cover production to shipyards in Vietnam. The next phase will include production and assembly of marine cranes. Construction of a new factory will start in the next month or two and production is expected to start within a year.