Adax Group Aquires Norac AS

Friday, September 30, 2005
Norac AS is forging ahead as one of the leading manufacturers of marine accommodation systems by joining ADAX Industrier, which will further boost its growth and development.

"This acqusition represents substantial growth for the Adax Group, giving both key geographical and manufacturing synergies," says corporate head Lars G. Otterlei.

"Norac's strong brand and international experience fits well with our strategic plans for development and global expansion. Together with Norac, the Adax Group will have 700 employees, 500 of which are outside Norway," he said. Otterlei anticipates annual ADAX turnovers to reach NOK 500 million in 2006.

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

5 Tunisian Migrants Die in Shipwreck

At least five Tunisian migrants died on Saturday when their boat sailing to Italy capsized off the Tunisian coast, officials said. "A migrant boat carrying

Navigation

Seaway to Receive Prestigious OECD Award

The St. Lawrence Seaway Management Corporation (SLSMC) announced today that it will receive a prestigious award from the Organization for Economic Cooperation

IMO Adopts Polar Code Environmental Provisions

United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on

NAVTOR AS, Nautic AB Launch Complete Navigation Solution

E-navigation specialist NAVTOR has joined forces with Nautic AB, a provider of navigational equipment, charts and publications to the Swedish market, to launch NAVTOR NAUTIC AB.

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
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: 0.1013 sec (10 req/sec)