Nogva buys 51% of Heimdal Propulsion
Nogva Motorfabrikk AS has entered into an agreement for the acquisition of 51% of the shares of Heimdal Propulsion AS. The acquisition and collaboration will give both companies an opportunity to deliver more complete package solutions within a higher power range, thereby giving them access to a bigger market. Heimdal Propulsion AS has changed its name to Nogva Heimdal Propulsion AS in connection with the deal.
Complete package solutions in a higher power range
The collaboration will be a big competitive advantage for both Nogva Motorfabrikk AS and Heimdal Propulsion AS, since they can now cooperate on offering complete solutions in a higher power range than they currently are able to. Being able to deliver engines, gears and propellers without having to depend on others will make things easier and more efficient for both the customer and the company.
‘Both companies have similar backgrounds, starting as engine manufacturers in the early 1900s, and our operations are based on the same mentality. Together, we will now continue to develop state-of-the-art, complete propulsion solutions on a broader basis and in a higher power range. Heimdal and Nogva will be an excellent combination,’ says CEO of Nogva Kjell Norvoll.
The same values
The companies also have the same customer service philosophy and have a strong focus on maintaining the good, long-standing customer relations they have built up. Both the workforce and customers can expect stability and quality as regards the solutions from both companies.
Nogva and Heimdal Propulsion complement each other
Heimdal Propulsion AS started up in 1916 with its main focus on engine manufacture. Its focus gradually shifted to manufacturing gear and propeller systems for small and medium-sized vessels.
Nogva Motorfabrikk AS was founded in 1913, and its main activity was also engine manufacture. Engines have always had a central role in Nogva’s operations, and they have also made gear and propeller systems, but for a somewhat lower engine power than Heimdal.
‘We see an opportunity for development together with Nogva. Heimdal and Nogva’s products complement each other very well, so this a forward-looking acquisition,’ says Svein Tore Tande, General Manager of Heimdal Propulsion.
Nogva is a large supplier of complete propulsion systems and generators for offshore and supply vessels, fishing boats, ferries, merchant ships and aquaculture all over the world.
For more information, please contact:
Kjell Norvoll, CEO of Nogva Motorfabrikk AS, (+47) 91 39 78 41 / kjell.norvoll@nogva.no
Svein Tore Tande, General Manager of Heimdal Propulsion AS, (+47) 924 52 155 / svein.tore@heimdalprop.com