MacGregor JV Set Up In Vietnam

VIETNAM: M arin e cran e 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 Corp., which owns Hiab and Kalmar and had net sales last year of 2.6 billion ($3.4 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 and production is expected to start within a year.