Cargotec's MacGregor reaches a settlement agreement and will book EUR 11 million cost

Cargotec's MacGregor has agreed on a commercial settlement with a customer related to a development project from 2011.

Cargotec will book EUR 11 million costs in MacGregor's fourth quarter operating profit in 2015 to cover the costs of the settlement. Whilst having a clear negative impact on MacGregor result in the current quarter, management assessment is that this settlement is in the best interests of the business going forward.

MacGregor and the customer have agreed not to disclose further details on the issue nor on the settlement.

The settlement has no impact on Cargotec's full-year guidance, which remains unchanged.