KONGSBERG acquires Havtroll AS and Havtroll Teknikk AS

Kongsberg Gruppen ASA has entered into an agreement to acquire the assets and business of Havtroll AS and Havtroll Teknikk AS. The companies will belong to Kongsberg Oil & Gas Technologies (KOGT) and will be integrated into Seaflex, an existing KOGT subsidiary. The acquisition is expected to be complete by the end of November 2009.

Havtroll AS represents expertise and experience in engineering Subsea process plants, while Havtroll Teknikk AS is a supplier of specialty products for subsea production facilities and pipes.

The acquisition will contribute to strengthen KOGT’s engineering business within subsea Oil & Gas both in Norway and internationally. Havtroll Teknikk AS will add a portfolio of specialty products that complements the further efforts of Seaflex and KOGT within upstream oil & gas technology.

After the merger Seaflex AS and the Havtroll companies will have 40 employees in Asker and 5 in Houston. The merged company will also have 16 engineers in a pool for hire.