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Brunvoll acquires Scana Propulsion

Dec 22, 2016 01:39 PM

(MOLDE, Norway) — Brunvoll AS has signed an agreement with Incus Investor ASA to acquire all the shares in Scana Propulsion AS, including subsidiaries Scana Volda AS and Scana Mar-El AS in Norway and three sales companies located in the United States, Singapore and China. Meanwhile Brunvoll Holding AS signed an option agreement for the acquisition of Scana Volda AS Real Estate, which owns manufacturing and office facilities of Scana Volda AS.

Brunvoll supplies thruster units to the global market and is a family-owned company with its head office and production facility in Molde. Chairman Arthur Brunvoll stated that the owners show they are thinking long term and would like to participate in developing Brunvoll to meet the market with a broader product portfolio. 

Scana Propulsion AS is a supplier of gear and propeller systems with associated control systems for the propulsion of ships and thus has a complementary product range to Brunvoll.

Brunvoll CEO Odd Tore Finnoy emphasized that this acquisition is a strategic move from Brunvoll's side, where the aim is to create a win-win situation for both companies, which together can offer customers even better and comprehensive solutions for both propulsion and the operation of advanced vessels.

The transaction is subject to approval from the Competition Authority.

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