Norwegian manufacturer and supplier of maritime interior systems, Norac, takes full control over Chinese subsidiary Norac Suzhou and appoints new CEO.
13 years after Norac established its first production facility in China, the highly regarded manufacturer of interior for cruise ships, commercial vessels and offshore installations, is yet again investing in the city of Suzhou. Already a majority owner, Norac recently bought out the minority owners to take full control over Norac Suzhou.
“As a result of the takeover, we are moving production to a more modern and efficient facility in Suzhou. This will enable us to provide products better adapted to market demands and expectations,” says Rune Aarrestad, CEO of Norac.
Norac products include fire rated walls, ceilings, doors, prefabricated wet units, glazed partitions and doors, floating floors and windows for maritime use. Customers include cruise giant Royal Caribbean International, Edison Chouest Offshore and several Korean and European shipyards.
To head all operations in China, Norac has appointed Mr. Kaare Rannekleiv as new CEO of Norac Suzhou. Rannekleiv is a Norwegian citizen and maritime business veteran, who has resided in China since 2011.
“We are very pleased to have Mr. Rannekleiv lead our team in Suzhou. He is well familiar with Chinese culture and a perfect fit for Norac in Suzhou,” says Aarrestad.
China is an increasingly important market for Norac, as more ship owners are building their ships in China rather than in Korea and Singapore.
“Our facility in Suzhou is mainly intended to serve the Chinese market. However, we expect production to increase to a level which will enable us to export products from China to other markets, supporting our main production facility in Lithuania,” says Aarrestad.
For further information, please contact:
Mr. Rune Aarrestad, CEO Norac Phone: + 47 934 03 981
Mr. Kaare Rannekleiv, CEO Norac Suzhou Phone: + 86 150 5218 0832 email@example.com
Suzhou / Arendal, April 6, 2017
Norwegian citizen and Chinese resident Kaare Rannekleiv is the new CEO of Norac Suzhou.