MARCH 6, 2017—Headquartered in Norway, Vard Holdings Limited (VARD) has secured a framework agreement valued at about NOK 48 million (about $6.84 million) for the maintenance of five Coast Guard vessels for the Norwegian Defense Logistics Organization (NDLO) over a period of four years.
Vard controls nine shipbuilding facilities—five in Norway, two in Romania, one in Brazil and one in Vietnam. Vard Langsten in Norway, which has built and converted vessels for the (NDLO) will handle the framework agreement. The contract includes ship maintenance and corrective maintenance of the Norwegian Coast Guard’s Nornen series of five vessels. The agreement stretches over a period of four years with options for three more years.
CEO and Executive Director Roy Reite says, “Our shipyards build a broad range of specialized vessels, and have a high competence within conversions, repairs and maintenance.”
The Norwegian Defense Logistics Organization (NDLO) delivers logistics according to military needs. This includes procurement, investment, support, supply and maintenance of all weapon systems and military materiel in times of peace, crises and war.
Fincantieri Oil & Gas SpA, a subsidiary of Italy’s Fincantieri SpA, controls a majority interest in VARD.