Crimean firm takes NorYards stake

OE Staff
Thursday, May 29, 2014

Norwegian offshore services and shipbuilding firm Bergen Group and Calexco have finalized a deal which sees Bergen Group sell its majority interest in NorYards to Calexco.  

NorYards is now 70% owned by Calexco, and 30 % by Bergen Group. NorYards consists of NorYards BMV and NorYards Fosen, which is the continuation of Bergen Group’s Shipbuilding division.

Calexco was set up by Joint Stock Company Zaliv Shipyard, based in Crimea, Ukraine. NorYards was set up by Bergen Group as a new company to bring together its shipbiulding subsidiaries, comprising Bergen Group Fosen, Bergen Group BMV, and Bergen Group Fosen Industrier, for the deal. 

“The market outlook for construction of advanced offshore vessels and specialised vessels is evaluated as good. With the new ownership, NorYards will strengthen its position in the shipbuilding industry; from basic design through to completion of advanced offshore vessels for a demanding international market”, says CEO Johannes Neteland in NorYards.

NorYards signed already in April 2014 their first newbuilding contract, valued more than NOK650 million. The contract was awarded from NFDS 2 Offshore for outfitting and commissioning of a new and modern anchor handling tug supply vessels (AHTS). The project will be carried out at NorYards Fosen, generating outfitting activity at the yard from Q3 this year until delivery in Q2 2015. Read more: NorYards wins AHTS deal

Bergen Group's decision to reduce its stake in NorYards was following a decision to reduce the group's involvement in the shipbuilding business, in favor of a more dedicated focus on offshore related activities.

Categories: Shipbuilding Vessels Norway Europe

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