Norwegian industrial group Bergen Group plans to change its name upon completion of the merger process with compatriot oil services company Endúr Fabricom, which is expected early next year.
Bergen Group entered into an agreement with Endúr Fabricom for a merger between the two companies back in August 2018, stating that the new entity would constitute an industrial group with close to 400 employees and an order book exceeding NOK 1 billion.
Earlier this month, the merger plan received unanimous approval from the respective board of directors of the two firms, gaining support from the main shareholders in Bergen Group, representing more than 62% of the shares in the company, as well as 100 % of the owners of Endúr Fabricom.
On Wednesday, November 21 Bergen Group said that its board had proposed to the company’s extraordinary general meeting a change of the company name to Endúr when completing the merger with Endúr Holding in the middle of the first quarter of 2019.
The extraordinary general meeting will be held on December 21, 2018, Bergen Group added.
“The merger represents an important strategic milestone for the companies involved. At the same time, this will be the start of a new and exciting phase for the merged company, with enhanced operational activity over a larger geographical market. A change of company name is thus considered as a positive boost,” said Nils Hoff, CEO of Bergen Group.
The word “Endúr” is derived from the Old Norwegian language expression “endurnýja” which means renewing. Endur is also a word with various meanings, and in front of the word energy it means “lasting energy”.
The forthcoming name change from Bergen Group to Endúr will also be reflected in adjusted names for the group’s subsidiaries.