30 June 2017

Bergen Group strengthens corporate management and increases capacity

Bergen Group strenghtens the resources in the group management, as well as securing an increased capacity for ship maintenance.

 

Reference is made to the stock exchange announcement distributed on 8 March 2017, where it was informed that Hans Petter Eikeland (pictured above) and Nils Hoff both agreed to enter permanent positions as respectively CEO and CFO in Bergen Group ASA when their current engagement period expires on 30 June 2017.

Hence, Eikeland and Hoff will as from 1 July 2017 take up their permanent positions as appointed CEO and CFO. At the same time, the resources in the group staff are strengthened, as well as an increased capacity for ship maintenance.

CEO Hans Petter Eikeland is clear that these measures are rooted in a clear growth strategy for the Group.

"During the last six months, for the first time in many years, we have had both strategic opportunities and financial muscles to further develop the Group. Our main owners together with the board and a strengthened corporate management agree on an offensive growth strategy with ambitions to develop Bergen Group to become an attractive industrial group in Western part of Norway”, Eikeland states.

"During first half of 2017 we have taken various measures in order to strengthen our market position and establish greater flexibility for further growth," concludes the CEO, referring to the fact that profitable operations and successful private placements have significantly strengthened the Group's equity. Furthermore, the acquisition of AAK Energy Services, now renamed Bergen Group AAK, has provided the Group with access to new markets, and strengthens our position in existing business areas in the Group.

"The discharge from the position as a supplier of frigate maintenance was obviously not desirable. However, our subsidiary Bergen Group Services AS will still maintain deliveries of various services to the Defence for a long time to go. This includes projects generated from several framework agreements that are not directly related to the frigate maintenance itself”, Eikeland points out and refers to the stock market announcement disclosed this morning about the Defense’s exercise of an option on a one year extension of a framework contract relating to ship maintenance and repair on other parts of the Norwegian Armed Forces vessel categories.

"It is also exiting to register that our well established expertise in demanding and complex ship maintenance projects has an increased attractiveness in the civilian market. Here we have potential for further growth”, Eikeland conclude.

In this context, the subsidiary Bergen Group Services will from 1 August this year lease a workshop-facility and additional quay-capacity located in the former BMV area at Laksevåg in Bergen.

“We have had periods where we have experienced lack of capacity at quay and qualified man-hour resources. Now we can offer the market better capacity in both ways”, the CEO points out.

Bergen Group ASA is an industrial group based in Western part of Norway and a well-established supplier of products and services to the areas of Energy & Industry, Maritime, Defence and Access Technology. The operations within the respective business areas are based on an extensive expertise and comprehensive experience. The operational activity is taking place in the wholly owned subsidiaries Bergen Group Services AS and Bergen Group AAK AS (formerly AAK Energy Services AS). The group has more than 200 employees as per June 2017. In 2016 the Group companies had a total turnover of approx. NOK 300 million.

Contact person: 
CEO Hans Petter Eikeland, tel. +47 932 08 177