Cargotec's MacGregor takes 11 million euro hit

Cargotec will book EUR 11 million costs in MacGregor's fourth quarter operating profit in 2015 to cover the costs of the settlement. While 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.