Kongsberg Concludes Acquisition of Evotec AS

Tuesday, October 04, 2011
Evotec's Oil Recovery Handling System

Acquisition completes following July 4th announced agreement in principle.


Kongsberg Maritime AS, a wholly-owned subsidiary of Kongsberg Gruppen ASA, completed the acquisition of Evotec AS on Friday 30th September. Evotec AS develops and delivers technological management systems for the seismic, subsea and supply markets, among others. Within these sectors, the company has developed systems that have allowed it to carve out a position as one of the market's leading suppliers. In addition, Evotec is building up a Service and After-market Department that has recently concluded service/framework agreements with key players in the market.


Evotec AS is located in the Norwegian municipalities of Herøy and Ulstein and currently has about 55 employees. "The acquisition of Evotec is in line with Kongsberg Maritime's 'Full Picture Strategy' and will enhance our delivery scope for seismic and anchor handling vessels among others. Evotec is an innovative enterprise with good systems and skilled employees. It will be an important player in Kongsberg Maritime's further efforts in the markets that Evotec is involved in," comments Geir Håøy, president of Kongsberg Maritime.


Kongsberg Gruppen (OSE ticker: KOG) is an international knowledge-based corporation that supplies high-technology systems and solutions to customers engaged in the oil and gas industry, the merchant marine, and the defence and aerospace industries. In 2010, the Group had operating revenues of NOK 15.5 billion, and it currently has 6141 co-workers located in more than 25 countries. Kongsberg Maritime, a subsidiary of KONGSBERG, is an international technology enterprise that delivers innovative and reliable technical solutions to the maritime industry, including the merchant marine, offshore, subsea and naval segments. The company has production, sales and service facilities in 17 different countries, and its head office is in Kongsberg. In 2010, the business area had a turnover of NOK 6.3 billion.


People & Company News

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

MN100: Conrad Shipyard

The Company: Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries,

Technology

Scorpene Submarine Data Leak: Setback to Indian Navy

India has began multiple investigations to determine the extent of damage caused by the reported massive leak of secret data detailing the combat and stealth capabilities

NOAA Engineers a Better Current Sensor for Mariners

Navigating into seaports is now safer and more efficient for mariners thanks to improved NOAA technology that ships rely on to give them information about currents.

SMM 2016: World Premieres from around the Globe

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,

Contracts

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

Yangzijiang Shipbuilding to Slash 2,000 More Jobs

Chinese shipbuilder Yangzijiang Shipbuilding Holdings Ltd said it plans to cut 2,000 additional jobs, just under 10 percent of its current workforce, stepping up

Finance

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

Skaugen Goes to Red Again

Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Communication

26 Hours of Information Recovered from El Faro's VDR

A group led by the U.S. National Transportation Safety Board (NTSB) has gathered information from the recovered voyage data recorder (VDR) of sunken cargo ship

USCG Evaluates Comms Equipment in Alaska

Coast Guard Research and Development Center evaluates state-of-the-art communications equipment and Next Generation Incident Command System in Alaska   At nearly 663,

Connected Ships, Smart Data, Cybersecurity to Feature in SHIPPINGInsight

Ship connectivity, smart data and cybersecurity will be central themes on the agenda at the fifth SHIPPINGInsight Fleet Optimization Conference & Exhibition. The

Mergers & Acquisitions

Hapag-Lloyd Shareholders Okays Merger with UASC

Hamburg-based ocean carrier Hapag-Lloyd said its shareholders approved all items on the agenda at Annual General Meeting, mainly the  share capital increase needed

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

Hapag-Lloyd: UASC Merger Benefits to show in 2017

German container shipping line Hapag-Lloyd expects to reap a third of targeted annual synergies of $400 million from the planned merger with Arab rival UASC already next year,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1201 sec (8 req/sec)