Brunvoll Acquires Scana Propulsion
Odd Tore Finnøy, CEO, Brunvoll AS. (Photo: Brunvoll)
Final assembly and FAT of Brunvoll AR100 Retractable Azimuth Thruster. (Photo: Brunvoll)
Brunvoll FU115 Tunnel Thrusters ready for shipment. (Photo: Brunvoll)
Brunvoll, a family-owned company headquartered in Molde, Norway, a company that designs, manufactures and services complete thruster sstems for maneuvering, positioning and propulsion of advanced vessels, this week signed an agreement with Incus Investor ASA to acquire all the shares in Scana Propulsion AS, including subsidiaries Scana Volda AS and Scana Mar-El AS in Norway and three sales companies located in the United States, Singapore and China.
Brunvoll Holding AS signed an option agreement for the acquisition of Scana Volda AS Real Estate, which owns manufacturing and office facilities of Scana Volda AS.
Scana Propulsion AS is a supplier of gear and propeller systems with associated control systems for the propulsion of ships and thus have a complementary product range to Brunvoll.
CEO Odd Tore Finnøy in Brunvoll AS said that this acquisition is a strategic move from Brunvoll's side, where the aim is to create a win - win situation for both companies, which together we can offer our customers even better and comprehensive solutions for both propulsion and operation of advanced vessels. Customers demand complete and comprehensive solutions, with low life cycle costs and energy efficiency. We are strengthening our position in the market with this acquisition says Finnøy.
The transaction is subject to approval from the Competition Authority.
