Bergen Group sells Hanøytangen rig service business

Hanøytangen facilities include one of Europe's largest dry docks Hanøytangen facilities include one of Europe's largest dry docks

APRIL 13, 2015 — Norway's Bergen Group is selling its rig-service activity at Hanøytangen. Esbjerg, Denmark, headquartered project engineering specialist Semco Maritime will take over operational activity and Hellik Teigen AS is taking the real estate. The total transaction price is set to NOK 245 million.

Bergen Group says it is "strategically appropriate to bring in new international ownership to take over the further development of the rig- service activity at Hanøytangen."

"The offshore market has become more challenging, volatile and complex. An increased international competition is expected, and this calls for a substantial and flexible project capacity as well as future investments in developing the yard. Bergen Group has in this respect evaluated various strategic alternatives and financial measures for Hanøytangen. Based on a comprehensive process, the board of directors in Bergen Group has concluded on a sale of both the real estate and the operating assets as the best alternative available," says Magnus Stangeland, chairman of Bergen Group ASA.

Steen Brødbæk, CEO of Semco Maritime, says: "The acquisition is an important strategic step for Semco Maritime in pursuing our ambition to become the North Sea leader within projects, service and maintenance for the rig market. Hanøytangen has excellent yard facilities and is the deepest dry dock in Europe. It is a perfect match to our existing facilities in Esbjerg and Invergordon. Hanøytangen completes our set up in the North Sea triangle, thus enabling us to provide a very strong proposition to our clients with one of the largest and strongest rig upgrades and service facilities in Europe."

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