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 August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Dan-Bunkering Restructures for Expansion

Bunker trading company A/S Dan-Bunkering Ltd. introduced a new organizational structure effective August 1, 2014. The company said the move was made to maintain its position,

Langh Ship Scrubber Receives Class Approval

Langh Ship received on July 17, 2014 final class approval from Germanischer Lloyd for its exhaust gas cleaning system on m/s Laura, a 1996-built a 6,500 DWT general

ESS Lands Second Contract with Dolphin Drilling

ESS Support Services Worldwide, part of Compass Group, has won a new, three-year contract, worth £10.5 million, to provide hotel and catering services to Dolphin Drilling Ltd.

 
 
Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0898 sec (11 req/sec)