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Bergen Group ASA Updates on Progress in Establishing Joint Venture with Calexco


Thursday, 12 Sep 2013 05:32am EDT 

Bergen Group ASA announced that following the agreement entered into in July 2013 to establish Bergen Group's shipbuilding division as a separate joint venture between Bergen Group and Calexco, a new board of directors for the new company has been appointed. The new company, which has been named NorYards AS, has already taken necessary steps to prepare for the solicitation of new contracts. When the sale of the Group's shipbuilding division to the new company is completed Calexco will acquire 51% ownership in NorYards AS. All existing shipbuilding projects in Bergen Group will, as from that date, be completed by NorYards AS under service agreements. NorYards AS will have around 400 employees in Norway based on the current permanent staff at Fosen and the BMV. The company will already on the completion date start with a high outfitting activity under the service agreements with Bergen Group related to the completion of the Bergen Group's existing shipbuilding contracts. 

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