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 Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

HHI to Deploy 3DEXPERIENCE Design Platform

Hyundai Heavy Industries Selects Marine & Offshore Industry Solution Experiences for Design and Engineering of Offshore Structures Dassault Systèmes,

Huisman Debuts Rope Luffing Knuckle Boom Crane

In order to provide reliable solutions for subsea installation in increasingly deeper water and offshore construction in severe weather conditions, Huisman introduces

Scafi Expands Fleet with Italian Damen Tug

Damen is to construct a new ASD 3212 tug for Scafi, the Italian shipping group that includes a number of international towing companies. The contract cements their

Mergers & Acquisitions

Knightsbridge, Frontline to Form US Capesize Company

Knightsbridge Tankers Limited and Frontline 2012 Ltd. have announced an agreement to combine Frontline 2012's remaining fleet of 25 fuel efficient vessels with Knightsbridge.

Fredriksen Joins Rival for New Capesize Firm

Shipping tycoon John Fredriksen is joining one of its shipping firms with rival Knighsbridge Tankers Ltd to create the largest U.S. listed Capesize firm, which

Shippers Vapores, Hapag-Lloyd Merger

A significant majority of shareholders in Chilean shipper Compania SudAmericana de Vapores lent their support to the firm's merger with Germany's Hapag-Lloyd,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators
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: 0.2375 sec (4 req/sec)