Havyard elects new chairman

Bård Mikkelsen, former CEO of Statkraft, is elected new Chairman of the board at the ship technology group Havyard Group, which will be taken public this spring.

Bård Mikkelsen

Bård Mikkelsen has extensive experience as CEO and board member/Chairman, such as CEO of Widerøe and the Ulstein Group, Chairman of the board for Cermaq and board member of German power giant E.On.
Former Chairman of the board, Per Sævik, the offshore gründer, is very pleased with Bård Mikkelsens entry as new Chairman. Sævik represents the main shareholder Havila Holding, which at this writing owns around 82 per cent of Havyard Group. The Group will commence an international sales pitch to investor groups in USA and Britain this weekend.

“Bård Mikkelsen has been elected following a long and thorough process, where several candidates have been considered. Havila Holding is very pleased with this choice. I feel confident that Mr Mikkelsen, the board and the management of Havyard Group together will develop the company for the furture,” says Per Sævik.

Mikkelsen has, in addition to his position as CEO of Statkraft, served as CEO of Widerøe, Scandinavias largest regional airline, and CEO of the Ulstein Group from 1997 until the company was sold to Vickers for 4 BN NOK.

“I look forward to working with the board and the company management, creating safe and profitable jobs. I will spend the immediate future getting to know the company, the management and the employees,” says Mikkelsen.

The process towards a public listing of Havyard at Oslo Stock Exchange is now well underway. The coming weekend, CEO Geir Johan Bakke and a team of employees and advisors will commence a sales tour to USA and Britain for meetings with investor groups.

The company, which over the past few years has produced very good results, plans to collect 100 M NOK in a private placement before the public listing in order to support further growth. Today’s main shareholder, Havila Holding, is planning to divest, increasing Havyard’s independence from the Havila group of companies. Per Sævik and Havila Holding still intend to continue as a significant shareholder in Havyard Group.

Leader of Havila Holding, Per Sævik, is clear that a divestment and public listing does not constitute a loss of faith in Havyard Group, quite the opposite:

“Our family has a major investment in the offshore service vessel industry. It is in light of this, and because we see that it is important that we optimize the conditions for Havyard Group’s further development on the ship equipment and technology side, that we chose to reduce our ownership share. Havyard has a considerable potential for growth, but the development of the company may be too demanding for us as a family company ,” Sævik emphasizes.

Havyard Group has earned more than 900 M NOK over the past six years. Since 2000, when the Sævik family bought the shipyard from Kværner, the turnover of the company has increased from around 500 M NOK annually to more than 2 BN NOK annually.

 

Press Release, March 27, 2014

 

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