Monday, April 1, 2019

Prestigious Name Added to Maritime Technology Group as Rolls Royce Commercial Marine Sold

Norwegian Deal Meets European Commission Approval
Shipping News Feature
NORWAY – The sale of Rolls-Royce Commercial Marine (RRCM) to Norwegian group Kongsberg as proposed last July, has now gone through with a value for the maritime technology supplier agreed at £500 million on a cash and debt free basis and with working capital at an agreed level. The deal saw recent European Commission approval with Kongsberg Maritime parent company Kongsberg Gruppen immediately switching the RRCM brand to its own.

The new unified company is represented in 40 countries, has more than 11,000 employees and an annual turnover of more than NOK 22 billion, whilst a fleet of more than 30,000 vessels is dependent on the organisation’s combined expertise. Geir Håøy, CEO of Kongsberg, said:

“I have looked forward to this day for a long time. Together we are now well positioned in the market and our ambition is to lead the development of the future maritime industry globally in close cooperation with customers and partners. We shall be the ocean space expert. We have spent a long-time planning and preparing, now the work of ensuring a successful integration begins.”

With RRCM under its wing Kongsberg Maritime says it expands its global presence and customer proximity, supporting and empowering more sustainable, safe and secure marine operations for all vessel types through cutting-edge operational technology including automation, navigation and control systems. RRCM’s expertise also strengthens Kongsberg’s leadership in maritime digitalisation, ship intelligence and enabling technologies for autonomous vessels. Bård Bjørløw, EVP Global Sales and Marketing, Kongsberg Maritime, added:

“Our goal is to further develop our track record of innovation and dedication in helping our customers meet the evolving challenges of the maritime industry be it through cutting-edge autonomy and digital solutions or highly reliable power and propulsion systems. As we continue to create new future-proof answers to today’s challenges, we’re confident that that integration possibilities of the next generation of The Full Picture will unlock new efficiencies and contribute to sustainability.”

The acquisition is intended to enable Kongsberg to extend its own talents, becoming a more complete technology supplier whilst trading on one of the most prestigious names in engineering and technology. Executive Vice President of Kongsberg Maritime Egil Haugsdal concluded:

”I am looking forward to welcoming 3,600 highly skilled new colleagues. Together we will work for a fast and smooth integration of people, cultures, products, solutions and innovative work. Through world-class technology, customer focus, the power to innovate and the willingness to change, we will deliver the results we have promised.”