SCHOTTEL Strengthens Its Brand in Norway

In order to have a clearer distinction and focus on the sales and service of SCHOTTEL products, Frydenbø Power AS will change name to Frydenbø SCHOTTEL Nordic AS.

SCHOTTEL has acquired 33% of the shares of Frydenbø SCHOTTEL Nordic AS to support this initiative and emphasize the key role of the Norwegian market for the SCHOTTEL Group. All other marine activities in previous Frydenbø Power AS will be merged into the mother company, Frydenbø Industri AS, as a separate department (department East).

The name Frydenbø is well known and a strong brand in Norway with activities in three different areas; marine industry (Frydenbø Industri AS), real estate (Frydenbø Eiendom AS) and cars and leisure boats (Frydenbø AS). Frydenbø Industri AS represents several brands and companies mainly within marine industry, – with central locations in Oslo, Bergen, Ålesund and Øksfjord.

Frydenbø SCHOTTEL Nordic AS, lead by Mr. Petter Hesstvedt, has also established a new sales office in Ålesund in 2013, lead by Mr. Gisle Andersen. This sales office is located together with Frydenbø Industri Ålesund AS in Skarbøvika, and Mr. Andersen will focus on the sales of SCHOTTEL products in the area.

This is a further clear commitment to SCHOTTEL and Knut Herman Gjøvaag, chairman and owner of Frydenbø, and chairman of the SCHOTTEL supervisory board claims: “Since 2007, when Frydenbø took over shares in the German SCHOTTEL GmbH, a lot has been done to create a powerful sales and service organization in Norway. Now, we want to enhance the SCHOTTEL activities in Norway, above all in the offshore area. The market position in the segments of ferries and tugs is already very satisfying. Now, our goal is to partake in the Norwegian technological lead in the offshore sector with quality products from SCHOTTEL.”

The SCHOTTEL Group has been represented in Norway since 1954 by Frydenbø Power AS starting under the company name of William Knudsen AS. In 2007, Frydenbø Industri acquired 15,4% of the shares in the German SCHOTTEL GmbH.

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Press Release, October 31, 2013