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 June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory

CMA CGM to use Kingston As Transshipment Hub

French shipping giant CMA CGM plans to use Kingston Container Terminal,  Jamaica as a strategic Caribbean transshipment hub for an enlarged Panama Canal. The Port connects to US East Coast,

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

Mergers & Acquisitions

HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory

OSG Joins NYSE "Big Board"

Overseas Shipholding Group, Inc. (NYSE:OSG) (the “Company” or “OSG”) announced today that it has been approved by the New York Stock Exchange (“NYSE”) to transfer

Merger: Survitec Joins Forces with WMS

Survitec Group announced a transformational deal with the Marine Safety business of Wilhelmsen Maritime Services AS (WMS), in which WMS will transfer into Survitec

 
 
Maritime Contracts Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0882 sec (11 req/sec)