Bergen Group Eyeing New Owner for Its Rosenberg Division (Norway)

February 4, 2013

Bergen Group ASA is currently in the process of reviewing major structural changes in the Group’s offshore division.

As previously announced, the Group has been looking to strengthen the engineering capacity of the division, a process which has developed into specific discussions about the introduction of an external owner in Bergen Group Rosenberg.

“We have for some time discussed various strategic options that could support the solid growth of the offshore division, through both partnerships and more formal collaboration with other players. This process has resulted in possible new solutions where we have initiated discussions with external players to take an ownership position in Bergen Group Rosenberg. We expect to further clarify this in the near future”, says CEO Terje Arnesen in Bergen Group ASA.

The Shipbuilding division will also in Q4 2012 deliver operating losses due to additional provisions for completion of ongoing projects. Ongoing projects and restructuring costs contributes to deficits in both yards in the division in Q4 2012.

“We have been through an extensive process to secure progress in complex newbuilding projects according to agreed delivery time. This will unfortunately be more costly than expected and additional provisions must be taken within Shipbuilding in Q4 2012”, says Terje Arnesen.

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February 4, 2013