Kvaerner, the Norwegian shipbuilding and engineering group and the Finnish ship equipment manufacturing company Oy Navire AB, Parainen, have recently announced the intent to merge.
When joined with Kvaerner Brug equipment company, Oslo, Norway, the new organization will have annual sales of about $65 million and employ about 750 people. The new company will rank second in the production of cargo access equipment, just below MacGregor.
Though the merger will not be fully effected until January 1, 1982, the two companies will begin cooperation immediately, it was announced by company executives.
The merger will give Kvaerner worldwide coverage with companies in West Germany, France, U.K., Holland, Singapore, Australia, Brazil, and the U.S., as well as Finland, Sweden, and Norway.
The new company will be known as Kvaerner Navire International AB, and its worldwide operations will be headquartered in Gothenburg, Sweden. Its products also will be provided through licensees in Japan, Taiwan, India, Spain, Italy, Yugoslavia, and Greece.