Ulstein Holding News

Idar Ulstein, that was CEO and Chairman of the board of ULSTEIN for many years, passed away Sunday night. He has played a huge role for the maritime industry and has been deeply involved in community development. Idar Ulstein entered the company first as a 14 year old in 1948, when his father died. After completing naval architect studies in 1962, he reentered the company as head of design. The company was growing, and when Molde yard was purchased in 1964, Idar became manager of the new companies. In 1974, after the merger with Hatlø mechanical workshop, he became CEO of Ulstein Hatlø.

Vickers PLC has recently made a major commitment to the marine market, most recently with its acquisition of Norwegian propulsion company Ulstein Holding for $476.8 million. Maritime Week contacted Vickers PLC CEO, Baron Paul Buysse for his take on this venture, as well as his inside strategies and goals for the future of the new company. MW: Why the heavy investment in marine at this point in time? Where do you see growth opportunities in short-term? Long-term? PB: After the divestment of Rolls Royce and Cosworth, Vickers plc was left with three strong engineering divisions: Defense, Turbine Components and Marine. In the Marine division we have very strong brand names such as Kamewa, Rauma, Aquamaster, Brown Brothers and Michell Bearings.