28 February 2014

Johannes D. Neteland appointed new CEO in NorYards AS

Johannes D. Neteland has been appointed CEO for NorYards AS with effect from March 1st 2014. He will replace Asle Solheim who has been acting CEO since the company was established last fall.

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Neteland will take up the position as CEO for NorYards as an engagement running from March 1st 2014 and six months going forward. A permanent appointment will be considered within the next half year.

Johannes D. Neteland has a unique international experience from leading positions within the maritime- and offshore related industry. His extensive knowledge and comprehensive network represents a strong contribution to Nor Yard’s management.  For the past 16 years, Johannes D. Neteland has been CEO for the stock listed company TTS Group ASA headquartered in Bergen, Norway.

In an extraordinary General Meeting this week, Mykola Kuzmenko was elected as new chairman of the Board of Directors in the company, replacing Mr. Sutharshan Tharmaratnam. Mr. Kuzmenko, representing Calexco S.a.r.l. as the future majority owner of NorYards AS, is also the Chairman of the Supervisory Board of JSC Shipyard Zaliv in Ukraine. In addition, Asle Solheim was also elected as a board member in NorYards AS.  Solheim is CEO in Bergen Group ASA.

Bergen Group expects the sale of the Group's shipbuilding division to NorYards to be completed by end of Q1 2014.  When closing is taking place, Calexco will acquire the majority ownership in NorYards AS consisting of NorYards BMV and NorYards Fosen. These two Norwegian shipyards will together with NorYards Design & Engineering  and NorYards Zaliv (Zaliv Shipyard, Ukraine) as a strategic partner, form the NorYards Group.

NorYards has with this established a strong position throughout the value chain within modern shipbuilding; from basic design and all the way through final completion of the vessels. The foundation for future growth in the international market for the construction of advanced offshore vessels and specialized vessels is expected to be strong.

For any further info:

Mykola Kuzmenko, tel. +47 908 96 675

Johannes D. Neteland, phone + 47 918 46 906

Asle Solheim, CEO of Bergen Group ASA, phone +47 993 28 465