Havyard Group AS is selling majority of shares in Havyard Electric Systems
Monday 8. februar 2010 12:27
NORWAY: In an extraordinary general meeting for Havyard Electric Systems it is decided that Havyard Group will reduce its share in the company to 35 %. The remaining 65 % will be sold to some of the key personnel in the company.
At the same time the company will change name to Norwegian Electric Systems AS and will no longer be a part of Havyard Group.
Norwegian Electric Systems is a knowledge based company where the value of the company and the ability to succeed is dependent on motivated employees with strong core know-how. With this transaction we will secure ownership and dedication from the people with this core know-how and we expect even faster development and better results. Havyard Group will be a financial investor in the company and we have high expectations to return of our investment.
Jan Berg will be the new Managing Director for Norwegian Electric Systems. Tor Leif Mongstad will concentrate on his other tasks in the Group Management in Havyard Group. Svein Milford will be new chairman of the board for the company.
To have experienced people as Jan Berg to take over the management of the company is very positive in order to secure fast and healthy growth. Even if we are selling down to 35 % we are convinced that this will be positive both for the value added in the company and for the customers of Norwegian Electric Systems replies Tor Leif Mongstad, Senior Vice President of the Ship Equipment & Systems division in Havyard Group.
