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    Bergen Group reduces exposure to shipbuilding

    Yard News // March 10, 2014

    Bergen Group has decided to accelerate the process of reducing the group's involvement in the shipbuilding in favour of a more dedicated focus on offshore related activities. 
    As a part of this process, Bergen Group has confirmed that it has entered into an agreement to sell two of its remaining shipbuilding projects to Kleven in Sunnmøre, Norway.

    The sale will release approximately NKr 80-90 million in working capital in the two projects. At the same time, the need for additional working capital contribution from Bergen Group's in these projects has been eliminated.

    The company's CEO Asle Solheim said the sale of the projects to Kleven has no implications on the ongoing establishment of NorYards AS, in which Calexco Sarl will be the main shareholder. “The transaction with Calexco is expected to be completed by the end of the first quarter of this year as previously announced," he said.

    "The new company NorYards is already well underway to build a highly competent management team that is ready to continue with Bergen Group Fosen and Bergen Group BMV under the new name and with a new majority shareholder”, said Mr Solheim.

    NorYards AS will, when the transaction is completed, enter into a service agreement with Bergen Group, taking over the commissioning of two ongoing outfitting projects to be completed during the spring and summer of 2014. The two projects are an anchor handling vessel at Fosen and an offshore construction vessel at BMV.

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