Cavotec resilient in face of economic uncertainty

Global engineering group, Cavotec MSL, has recorded its strongest ever order book, up 8.7 percent for the year, on the back of a series of successes in the ports and maritime, airports and general industry sectors.

According to Cavotec’s second quarter report, the Group’s order book was worth €44.4 million on June 30th, up 8.7 percent on the year and up 9.5 percent on the quarter. Order intake for the 12 months to June also rose, up 5.9 percent to €135.7 million.

“Our strong order book, across a broad range of sectors and markets, gives us reason to remain positive for the coming 12 months and beyond,” says Ottonel Popesco, Cavotec CEO.

Cavotec recently announced a key breakthrough with its Alternative Maritime Power (AMP‘), or ‘cold ironing’ technology, with the successful connection of a post-PANAMAX container vessel to shore-based AMP‘ at the Port of Los Angeles (POLA) in California.

The Group has also enjoyed success with its vacuum-based mooring technology, signing major deals for different versions of the system with Nordic Ferry Services AS in Denmark, and with the Port of Salalah in Oman.

Orders won by Cavotec’s airports division in the quarter include a deal with UAE-based airline Emirates for
10 A380 flying tow bars; and three types of in-ground pit systems, including 65 fuel hydrant pits, for Moscow’s Sheremetyevo and Vnukovo airports. Cavotec’s airports division was further strengthened with the acquisition of the Dabico Group in April, a specialist supplier of aircraft refueling systems.

Elsewhere, Cavotec Shanghai received an order for 40 sets of power connectors from Bombardier in China, for installation on high-speed passenger trains. Cavotec has also recently delivered and installed the first radio remote control in a locomotive, for Dofasco, part of the Arcelor Mittal Group, based in Toronto, Canada.