Retford, U.K.-based Langley Holdings has completed its acquisition of Norway’s Bergen Engines group from Rolls-Royce for a consideration of EUR 91 million (about $103 million). In addition, EUR 16 million (about $18 million} of cash held within Bergen Engines AS, has been retained by Rolls-Royce.
Langley has acquired Bergen Engines AS as a stand-alone group including its engine factory, service workshop and foundry in Norway; engine and power plant design capability; its global service network and subsidiaries in nine countries.
The Bergen Engines group employs almost 950 people worldwide, of which more than 600 are based at its headquarters and production facilities near Bergen, Norway.
“The acquisition of Bergen Engines is a major step towards our net zero objectives,” said Langley chairman & CEO, Tony Langley. “The company has a superb reputation and is proving to be highly innovative in adapting its engines to low-carbon and non-fossil fuels.”
Visiting Bergen Engines last October, Langley gave the go-ahead to a EUR 4 million (about $4.5 million) research project to be funded jointly with the Norwegian government. The AMAZE (Ammonia Zero Emissions) project is developing the use of ammonia as an alternative fuel for ship’s engines.