New owners buys The M&K Group

The Norwegian maritime and industrial group -The M&K Group - including the shipyard Mjellem & Karlsen Verft AS in Bergen, is being bought by a private investment group headed by Carl Fredrik Seim from Bergen and Gunn Aarøe Uppstrøm from Oslo, Norway.

Mjellem & Karlsen Verft AS is a leading designer and supplier of seismic and research vessels worldwide and also Norway’s largest repair yard. In addition the yard has extensive experience in building and maintenance of naval vessels and is presently co-operating with Spanish IZAR in the building of five frigates for the Royal Norwegian Navy.

The last couple of years, large resources have been applied to restructuring and modernisation, and today the main part of the group’s activities are concentrated at Marineholmen in Bergen, Norway, in up-to-date facilities.

The new owners have expressed a strong intention to continue and strengthen the strategies of the companies in The M&K Group. The present management and organisation will be continued, and it is business as usual, but with a stronger basis for development of the group.
The formal date of the transaction will be the 31st of May 2002.