Kongsberg to Sell Fire and Safety Unit

Friday, December 06, 2002
Kongsberg Maritime has signed a contract to sell its fire and safety unit in Kongsberg Maritime Ship Systems (KMSS) in Trondheim to Autronica Fire & Safety AS, a subsidiary of KIDDE plc. The sold unit has an operating revenue of MNOK 85 and 25 employees. The transaction carries a price tag of MNOK 55,5 and will add slightly to Kongsberg's profit for the year. "We are confident this is a good industrial solution for us and for Autronica", comments Torfinn Kildal, president, Kongsberg Maritime. "Both companies will be able to focus more intently on doing what they do best. In Trondheim, KMSS will concentrate on radar-based cargo monitoring and sensors for maritime purposes. Autronica Fire & Safety will offer a more complete range since they will also cover maritime fire and safety equipment." KMSS (then Navia) has had a 6-year cooperation agreement with Autronica Fire & Safety since 1998, when all its fire and safety activities, except those in the maritime sector, were sold to KIDDE of the UK.

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