Kongsberg takeover targets “strategic growth”

Speaking about the takeover, Geir Håøy said that adding the Rolls-Royce Commercial Marine product portfolio and expertise to that of Kongsberg Maritime enables the latter to become more of a complete solutions provider.

“We become more of a ‘one stop shop’ with established expertise across a whole spectrum of systems and solutions. We believe that is a powerful proposition,” he said.

With a turnover of NOK8.9bn in 2017, Rolls-Royce Commercial Marine has operations in 34 countries, while Kongsberg, whose 2017 turnover totalled NOK14.5bn, operates in 25 countries. The purchase means that the Group now have products on around 30,000 vessels in the world fleet.

Good timing

As the digitalisation of the shipping industry progresses, so does automation, and as assets become more connected, there is a greater demand for system integration, said Mr Håøy.

“Having one supplier providing complete solutions makes perfect sense in that regard – with a more ‘joined up’ approach delivering enhanced performance, efficiency and data driven intelligence,” he pointed out.

Dismissing concerns that the acquisition comes at a time when the market appears unstable, particularly the offshore segment, Mr Håøy said: “In short, the only way to go is up, and we’re already seeing activity escalate on the installed base, if not in newbuildings.”

Nor-Shipping will be the first opportunity for the expanded firm to connect with the industry.