Havyard to acquire balance of Norwegian Electric shares

Havyard took a 37.9% stake in the company when it was established in 2009, but raised this to 50.5% in 2015 in the belief that NES’s technology would enable it to supply hybrid technology and electric propulsion systems in the future.
The latest move reflects Havyard Group’s strategy of combining the specialisms of NES with those of another group company, Norwegian Control Systems (NCS). This, the company said, would enable it to realise increased synergies through closer collaboration, both with NCS and other companies in the Havyard Group.
"We have taken a big step forward through our contracts for fully electric ferries to Fjord1“, said Havyard Group CEO Geir Johan Bakke, "and we are now able to deliver the most efficient and environmentally friendly solutions for these types of vessels. NES is an important contributor to the continued development of these solutions, so we are certain that we have made a very good investment."