Kongsberg Maritime's subsidiary, Kongsberg Maritime Ship Systems of Horten, will be supplying automation systems for a total of 40 new merchant vessels to be built in South Korea, the world's largest shipbuilding nation.
"Worth about MNOK 30, these contracts confirm that we have a market share of more than 50 per cent in South Korea", remarks Per Branstad, president of Kongsberg Maritime Ship Systems.
It is the joint venture, Hyundai Kongsberg Maritime of Seoul (in which Kongsberg owns a 35 per cent stake) that has landed the contracts, which are primarily with three South Korean shipyards: Hyundai, Samho and Daedong. The 40 newbuildings are merchant vessels of different kinds, and they are scheduled to be built from May 2001 to November 2002.
Establishing the joint venture Hyundai Kongsberg Maritime in 1999 has proven to be a successful strategy. This company provides local sales resources, engineering, installation and start-up of the automation systems made in Horten. "Our market share in South Korea is more than 50 per cent when it comes to propulsion control and engine room monitoring", confirms Per Branstad. "That makes South Korea one of our most important markets".
Kongsberg Maritime is a world leader in marine information technology. In 2000, Kongsberg Maritime had a turnover of MNOK 2 983, and a total of about 2300 employees in more than 20 countries.