Shareholders agree to let Kongsberg Maritime go it alone

Shareholders approved the separation of Kongsberg Maritime at an extraordinary general meeting on Friday, announcing plans to list the company on the Oslo Stock Exchange on April 23.

Today’s Kongsberg Gruppen ASA will continue as the two firms Kongsberg Defence & Aerospace and Kongsberg Discovery, and Kongsberg Maritime will become its own company, independent of the group.

“This was one of many milestones we will go through, and it was good to have this step confirmed,” said new CEO Lisa Edvardsen Haugan, who will take the reins in April. “At Kongsberg Maritime, we are ready to take the next step and stand on our own feet. We are uniquely positioned to take part in the upcoming value creation in the global maritime sector. We have the people, the knowledge, and the innovation power needed to solve the technological challenges the maritime sector will face in the coming years.”

While maintaining its base in Norway, Kongsberg Maritime will expand its footprint around the world ‘and follow our customers wherever they are’, given that 80% of the company’s revenues are from international sources.

The Norwegian government will retain its 50.004% majority share in the company. 

“I am very pleased that the Norwegian government recognizes the importance of retaining its ownership in the company and look forward to an active and good dialogue going forward,” said Haugan.

The new board of directors for Kongsberg Maritime consists of chair Per Arthur Sørlie and members Margareth Øvrum, Ivar Hansson Myklebust, Kristin Holth, and Anders Bade.

Kongsberg Maritime supplies technology and services to commercial, offshore and naval vessels worldwide. The company works with shipowners, shipyards and research partners on newbuilds and fleet upgrades, employing more than 8,000 people across 35 countries, serving multiple maritime industry segments.