Norwegian provider of subsea equipment to the industry, NLI Subsea, has been declared bankrupt.
NLI Subsea, comprising NLI Asker Subsea, NLI Odda and NLI Subsea Service, was spun out of NLI as a separate priority area in 2013.
Reports indicate that NLI Subsea was declared bankrupt last week, September 15, leaving the fate of its subsidiaries uncertain until now.
As a result of the parent company going under, 70 employees will lose their jobs in Odda.
According to Norwegian media, employees at Asker division have not yet received an answer regarding their future at the company, but NLI Subsea is said to be working to find a solution for that business as it looks for potential buyers.
Subsea World News has reached out to heads of the affected firms and will update should we receive additional information.
Subsea World News Staff