Norway: AF Group Acquires Batservice Offshore Shipyard
AF Gruppen (AFG) has signed a letter of intent with Båtservice Holding to acquire 100% stake in Båtservice Offshore Shipyard. The acquisition is a step in the development of AF services to oil and gas market.
Båtservice Offshore currently supplies maintenance and modification services to major oil and gas companies in Norway. The company currently has a turnover of about 70 million. Båtservice Offshore located in Mandal’s largest port and industrial area. With its proximity to Kristiansand and Stavanger, the area has become a part of the growing offshore environment in southern Norway.
AF Group has over time provided services to the oil and gas market. The main activity has been linked to land facilities Kårstø, Kollsnes, Mongstad, Snøhvit and Ormen Lange. In addition, AF is the leading player in decommissioning offshore. Through its wholly owned subsidiary Mollier, AF also has frame agreements with Statoil and ConocoPhillips for the delivery of services in the HVAC (Heating, Ventilation and Air Conditioning). Båtservice Offshore is part of the AF long-term commitment towards becoming a major supplier of EPCIC contracts (Engineering, Procurement, Construction, Installation & Commissioning).
– AF group has for years focused on oil and gas market. The strength of Båtservice Offshore lies within the maintenance and modification services offshore. By combining this expertise with our own, we lay the foundation to develop more holistic and customer-oriented solutions to the oil and gas market, “says Pål Egil Rønn, CEO of AF Gruppen.
Source: Batservice, December 3, 2010;