Marine Electronics Merger Introduces New Player
ongsberg Norcontrol in a move to expand i£s presence in the marine electronics market. The new company, Kongsberg Maritime, combines more than $300 million in annual revenues from Simrad and Kongsberg and will account for more than half of all of Kongsberg's businesses, which include defense and aerospace products.
To best accommodate the maritime market, Kongsberg Maritime has been organized into four main operating divisions geared to serve specific markets. The new departments are: Kongsberg Norcontrol for the merchant marine; Kongsberg Norcontrol Systems for marine training and traffic management; Kongsberg Simrad for offshore and ocean science study; and Simrad for yachting and fisheries. The company also seeks to develop an extensive international network by employing 600 of its 1,600 workers in 20 different countries. "Each of the companies was already in a world-class league in its own niche," said Kongsberg Maritime President and CEO Jan Erik Korssjoen. "Current market trends indicate that the new company will have much brighter prospects for the future than the two operations would have had separately." , An order for an advanced shuttle tanker to be built by Astilleros Espanoles SA's Sestao yard will combine Kongsberg Simrad's dynamic positioning and process control with Kongsberg Norcontrol's integrated bridge systems