Kongsberg Maritime (KM) said it has stopped the sale of KM Contros GmbH (Contros) in Germany to AML Oceanographic.
The Norwegian technology enterprise decided to divest Contros with the announcement of sale and purchase letter of intent with AML in October last year, following a strategic evaluation and prioritization of its business.
However, AML and KM have agreed not to pursue the deal, and consequently, Kongsberg Maritime has decided to cease the Contros operations.
Contros is a subdivision of the Sensors & Robotics division in Kongsberg Maritime, located in Kiel/Hamburg, Germany. Contros has two primary lines of business: sensors that measure dissolved gases in water, and platforms and deployment systems for in-situ oceanographic measurement.
Kongsberg Maritime said it will stand by the commitments to customers, employees and other stakeholders, and conduct a staged closure of the operation in Contros during the first half of 2020.