Kongsberg Maritime to acquire Berg Propulsion

Photo: Komgsberg Maritime

Norway’s Kongsberg Maritime ASA (OSE: KMAR) reports that it is to acquire Hönö, Sweden-based Berg Propulsion AB. Financial details of the transaction have not been disclosed. .

“This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments,” says Lisa Edvardsen Haugan, CEO of Kongsberg Maritime. “Berg Propulsion complements our portfolio in a highly attractive way, and together we will deliver greater value through a wider offering, stronger lifecycle support, and shared expertise.”

Kongsberg Maritime says the combination brings together two highly complementary businesses. While Kongsberg Maritime has a strong position in high-value, performance-driven segments, Berg Propulsion has built a leading presence in volume segments such as general cargo and product tankers.

“Joining forces with Kongsberg Maritime is an exciting opportunity for Berg Propulsion,” says Philip Chaabane, CEO of Berg Propulsion. “Our businesses complement each other well, and together we can create new opportunities for our customers and employees. We look forward to contributing our strengths while also benefiting from Kongsberg Maritime’s global scale and aftermarket capabilities,”

Following completion of the deal, Berg Propulsion will operate as a separate brand and standalone business unit within Kongsberg Maritime’s Propulsion & Handling division. This approach ensures that Berg’s strong culture, agility and customer focus are maintained.

“We look forward to benefit from Berg’s culture and speed, while leveraging our global capabilities to support their continued growth and execute on the synergies,” says Per Håvard Siljan Hjukse, EVP propulsion & handling at Kongsberg Maritime.

“The transaction will unlock significant potential in the aftermarket,” continues Hjukse. “Berg Propulsion’s large installed base and future deliveries can be supported through KM’s extensive global service network. We also see cross selling opportunities, such as our energy & control products into Berg Propulsion’s core segments, and Berg’s propeller systems into naval where KM has strong positions.”

The combined propulsion portfolio will cover a full spectrum of technologies, including:

• Controllable pitch propellers and thrusters
• Hybrid and electrical propulsion systems
• Integrated vessel control solutions

The transaction is subject to certain conditions, including customary regulatory approvals.