Experienced Senior Management News

Maven Capital Partners (Maven) announced a £3.5 million Scottish Loan Fund (SLF) investment in energy services business Coretrax Technology Limited (Coretrax). Set up in 2011 by the Scottish Investment Bank, the investment arm of Scottish Enterprise, and managed by Maven, the £113 million SLF provides loans of up to £5 million to ambitious Scottish businesses. Since launch the SLF has committed over £30 million in support of growth-focused companies. Coretrax was established in 2008 and offers a wide range of downhole tools and services with applications across the well life cycle…

Davie Yards Inc. (TSX:DAV) announced that Gustav Johan Nydal will be joining the corporation as President and CEO. Nydal-who has extensive experience in the marine industry-is taking over for Steinar Kulen, who will become Chairman of the Board of Davie. Both appointments are effective as of February 15, 2010. Over the last two years, Kulen has built up Davie's shipbuilding activities and has taken Davie through a financial and organizational restructuring. The corporation has five ships under construction and around 1,800 employees at the yard. Davie's team has also been strengthened with experienced senior management as well as qualified shipbuilding specialists. Davie is now well positioned for new contracts.