Havyard Group Buys Out MMC

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".