Havyard Group Buys Out MMC

Press Release
Sunday, November 18, 2012
Havyard & MMC Principals: Photo credit Havyard Group

Norway's Havyard Group AS buys 70 % of the shares in MMC, provider of products & services to the fishing & offshore vessel sectors.

MMC has 120 employees and the company’s main office is at Mjølstadneset in Fosnavåg on the west coast of Norway. The company is also located in Stavanger, Haugesund, Vigra and Tromsø, as well as having a branch office in Lima, Peru. MMC and Tendos joined forces in 2000 to deliver products  to fishing and well boats as well as shore-based receiving plants.

The management of Havyard Group is convinced that this acquisition will make both of the companies’ positions within the fishing and well boat industry much stronger. The remaining shares will be owned by the management of MMC and there will be few changes in the way the company is administrated.

"We know MMC very well and we have used them as subcontractors on many of our projects. One of these is a new well boat of a Havyard 587 design to Fosnavaag Shipping AS. MMC’s products are world-leading and it is a company with many motivated and talented employees. We believe that buying MMC will make Havyard bigger within the fishing industry and we feel this is a step in the right direction", says CEO in Havyard Group, Geir Johan Bakke.

CEO of MMC, Leif Gjelseth, is very positive about the acquisition. – "Havyard has had a very impressive development, and for us the company’s development is seen as an ‘industrial fairytale".

Maritime Today

The Maritime Industry's original and most viewed E-News Service

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

People & Company News

Euroseas Sells C/V Marinos

Euroseas Ltd.  an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes,

Bill on Danish Maritime Planning Submitted

The bill is to form the basis of a maritime planning act intended to promote economic growth and development of sea areas. The Danish Maritime Authority is to head the work.

Plans to Create Rio Doce Fund

Vale and BHP Billiton announced today plans to work together, with Samarco, to establish a voluntary, non-profit fund to support the rescue and recuperation of the Rio Doce river system,

Mergers & Acquisitions

Groundbreaking Ceremony for Seaspan's Vancouver Office

Seaspan hosted a groundbreaking ceremony today to announce it has officially started construction on a new head office in North Vancouver. The 7,800 square metre (84,

Shipping to See Further Consolidation

The CMA CGM's move to buy Singapore’s Neptune Orient Lines (NOL), could lead to one of the biggest acquisitions in the shipping container industry in years.   If it goes through,

Alaska Buys TransCanada AK LNG Stake

The State of Alaska has finalized a deal with TransCanada to buy out the pipeline company's share in the proposed Alaska liquefied natural gas export project for nearly $65 million.

Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Sonar 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: 0.0965 sec (10 req/sec)