Bergen Group (OSE: BERGEN) delighted investors on Thursday with another contract to Bergen Group Fosen from Volstad Maritime AS. The large high end offshore construction vessel has an estimated value of over 800 million NOK with scheduled delivery in 2013. It will be 125 meters long ST-259 CD design ship.
This is the seventh vessel order to Bergen from Volstad. It will extend the current high outfitting period at Bergen Group Fosen. Bergen Group has delivered 16 advanced offshore vessels in the last four years and sees this as an attractive market for years to come. Final board approval and financing are expected during Q1 2012. The company is due to report Q4 2011 earnings on Wednesday.
In the beginning of the month Bergen group said that Bergen Group Rosenberg has signed an LOI to acquire majority shareholding (60%) in engineering company Origo Process AS from Stavanger. The company has viewed finding qualified engineers as a possible bottleneck hurting future growth and Origo Process as an established supplier of process expertize (it employes process engineers and mechanical/piping/layout engineers) to oil and gas industry, would fit well under Bergen Group’s wing.
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