Kongsberg Completes Purchase of Rolls-Royce Commercial Marine
Kongsberg Group has completed the purchase of Rolls-Royce Commercial Marine (RRCM), announced in July 2018.
The RRCM is now an integrated part of Kongsberg.
“I have looked forward to this day for a long time. Together we are now well positioned in the market, and our ambition is to lead the development of the future maritime industry globally in close cooperation with customers and partners. We shall be the ocean space expert. We have spent a long time planning and preparing, now the work of ensuring a successful integration begins,” said Geir Håøy, CEO of Kongsberg.
The parties have agreed a value for Rolls-Royce Commercial Marine of GBP 500 million (on a cash and debt free basis and with working capital at an agreed level). The final purchase price is determined based on Rolls-Royce Commercial Marine’s cash, debt and working capital at time of completion of the transaction.
“I am looking forward to welcoming 3,600 highly skilled new colleagues. Together we will work for a fast and smooth integration of people, cultures, products, solutions and innovative work. Through world-class technology, customer focus, the power to innovate and the willingness to change, we will deliver the results we have promised,” added executive vice president of Kongsberg Maritime Egil Haugsdal.