Cavotec in 2013 – another defining year for inspired engineering

Our largest MoorMaster project to date, our combined AMP and MoorMaster system designed – the first of its kind anywhere in the world – and our move up to Mid Cap on the Stockholm OMX: here’s our pick of the milestones that made 2013 another defining year for Cavotec.  

Image courtesy of Norled

We’re supplying the world’s first combined automated mooring and shore power system for a passenger ferry service in Norway. Image courtesy of Norled.

In November it was announced that the Transnet National Ports Authority had placed a EUR 10-million order for 26 MoorMaster™ units for the Port of Ngqura. Not only is this Cavotec’s largest order to date for MoorMaster™, it is also the first in Africa.

A World-first

July brought news of a unique project in which we are combining automated mooring with our Alternative Maritime Power (AMP) technologies to form a single, fully integrated system for a passenger ferry service in Norway. A world-first, the degree of automation of this system is unparalleled, and will ensure safer, cleaner and more efficient operations for the end-customer, Norled.

We also secured another breakthrough MoorMaster™ order in Norway, this time for a bulk handling application. While there are several such applications in Australia, this will be first of its kind in Europe.

Airports also strong

The year was also positive for our airports unit, with major orders in the US, Europe, the Middle East and Asia. It was also encouraging to report several orders in India.

We attended all the major exhibitions and trade shows, including Inter Airport Europe, during which we launched a fuelling element to our E3 Gate. The E3 Gate - Ergonomics, Economy and the Environment – supplies parked aircraft with 400Hz power, PCAir, blue and potable water and sewage – and now fuel – via underground pit systems. This makes for an uncluttered tarmac, thereby improving safety and operational efficiency.

Future potential

Another segment where we saw substantial growth in 2013 was the oil and gas sector – an area that we expect to continue to grow in the future.

We rounded off a strong year with the news that the Cavotec share was upgraded to a Mid Cap listing on the Stockholm OMX, a development that indicates potential for the future.

And finally, heralding the opportunities of 2014, on January 1 this year, new regulations came into force in California requiring greater use of shore power systems. This is an area where we have been active for many years, and where we continue to lead the development of innovative systems that help ports and shipping lines dramatically reduce their environmental impact.

We’d like to take this opportunity to thank all our partners, colleagues and customers that helped make 2013 one of our best years yet. Here’s to applying the power of innovative thinking and inspired engineering in 2014 and beyond.

 


Cavotec now ready to list on NASDAQ OMX in Stockholm

We are pleased to announce that our proposed share listing on the NASDAQ OMX Stockholm has moved a step closer following approval of the proposal by the NASDAQ OMX Stockholm Listing Committee and the green light from the High Court in New Zealand.

Last week, the Listing Committee of the NASDAQ OMX Stockholm approved Cavotec’s proposed listing on the OMX. This approval, conditional on the completion of administrative steps and final registration of the listing prospectus by the Swedish Financial Supervisory Authority, is a critical step for the company to move its listing from the NZX in New Zealand to the  OMX.

Another significant milestone was reached on Monday with the New Zealand High Court granting Cavotec permission to implement its proposed Scheme of Arrangement and to continue the process of delisting from the NZX.

“The approval received from the NASDAQ OMX Stockholm Listing Committee represents a milestone for our company as it signals a clear acceptance of Cavotec into part of one of the world’s largest stock exchanges,” says Cavotec CEO, Ottonel Popesco.

“The authorisation from the New Zealand High Court to continue our proposed Scheme of Arrangement clears the way to structure the Group for sustained future growth.”

The Board remains confident ahead of its proposed listing on the OMX. The strong order book of EUR 102.1 million at the end of August is the result of a broad product offering and global presence – two key elements of Cavotec’s continued success as a supplier of innovative and sustainable system integration of power, fuel and air supply between fixed and mobile equipment.