16 September 2015

Bankruptcy petition of the subsidiary Bergen Group Skarveland AS

Bergen Group Skarveland AS has resolved a petition for bankruptcy due to lack of new orders and failing results.

The company's business has been related to pipe installations towards building of ships and deliveries for the offshore and onshore industry. Both the shipbuilding and offshore market have over the past year experienced cutbacks, which have had a strong negative impact.

Bergen Group Skarveland is a wholly owned subsidiary of Bergen Group ASA. The company's non-audited figures for first half 2015 show a turnover of NOK 32 million and an operating loss (EBIT) of NOK 9 million.

The company's headquarters are located at Sunde in Kvinnherad, in the western part of Norway. As of 31 August, the company had a total of 70 permanent employees.

Contacts:

Hans Petter Eikeland, CEO Bergen Group ASA, mobile +47 932 08 177
Øyvind Risnes, SVP Corporate Functions & Communications Bergen Group ASA, mobile +47 480 48 561