Norway: Kongsberg Acquires Evotec AS

Kongsberg Maritime AS, a fully owned subsidiary of Kongsberg Gruppen ASA (KONGSBERG) has reached agreement in principle with major shareholders in Evotec AS regarding acquisition of the company. Evotec AS develops and delivers marine technology handling systems to market segments like seismic, offshore supply and subsea. Within these niches, Evotec AS has developed systems which have led them to be one of the leading suppliers in the market. Evotec AS is located in Herøy and Ulstein municipal with a total of approximately 50 employees.

“For us in Evotec AS this enables us to continue our already established business strategy with focus on both local and international presence! We will continue with our contribution and have strong focus being the frontrunner for new and innovative solutions for the markets covering Offshore handling systems“, says Trond Myklebust, managing director i Evotec AS.

Kongsberg is an international, knowledge-based group that supplies high-technology systems and solutions to customers engaged in the oil and gas industry, the merchant marine industry, and the defence and aerospace industries. In 2010, Konsberg had a turnover of NOK 15.5 billion, and the Group had 5 681 employees in more than 25 countries.

Kongsberg Maritime is a global marine technology company providing innovative and reliable technology solutions for all marine industry sectors including merchant, offshore, subsea and naval. Headquartered in Kongsberg, Norway, the company has manufacturing, sales and service facilities in 18 countries. In 2010 the business area had a turnover of NOK 6.3 billion.

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Source: Kongsberg , July 5, 2011;