IMS group have today signed a definitive agreement to aquire all shares in Norac Baggerød AS. Nortac Baggerød is currently owned by Norac AS/Norac Holding AS.
We are very pleased with this acquisition says the CEO of IMS, Roy Langseth. We are a long-term industrial partner and use the same long-term business philosophy as the basis for this acquisition”, he says. Baggerød has many talented employees and great products. IMS’s success is built on world leadership within our field, and same can be said for Baggerød in their niches – where they are a leader when it comes to both quality and technology
We see that a close collaboration will provide significant synergies for both companies. We envision that Baggerød AS continues as a separate company. IMS and Baggerød products and markets are a good match, yet so different that we do not foresee major simultaneous fluctuations in the overall activities. This could ensure jobs, and we can avoid unnecessary short term downsizing within the group.”
CEO of Baggerød, Are V. Andreassen, is as IMS, satisfied that it is a long-term industrial owner who now enters the company. “Baggerød has great potential for continued growth and profitability, and we are pleased to continue this together with IMS,” he says.
For more information please contact:
- CEO of IMS, Roy Langseth: cell phone +47 926 67 007
- CEO of Baggerød, Are V. Andreassen: cell phone +47 456 17 869
- Chairman of the Board Norac and Otterlei Group, Jan S. Otterlei: cell phone +47 901 01 163
About IMS: IMS is the world’s leading manufacturer of watertight steel doors for ships and offshore. IMS has its main production at Akland and Krana in Risør, and also production in the United States, Germany and Vietnam. IMS also has operations and production within the following areas: automation, machining, laser cutting, oil spill equipment, fire windows and service and after sales. www.ims-as.com.
About Baggerød: The factory in Horten manufactures light and heavy-duty doors as well as windows and glazed partitions for ships and offshore constructions.The company was established in 1954 and holds today a complete range of standard and special door solutions.
The company is located just 1 hour drive south of the capital Oslo in the old premises of one of the biggest shipyards in Norway. Now the area host industrial companies of which many dealing with marine equipment.
About Norac: Norac AS manufacture fire rated walls, ceilings, doors, prefabricated wet units, glazed partitions and doors, floating floors and windows for use on board cruise ships, ferries, commercial vessels, offshore installations.
Norac is a leading supplier of interior systems for cruise ships, ferries, commercial vessels and offshore installations. Headquartered in Norway, the company manufactures and distributes fire-rated walls, ceiling systems, doors, prefabricated wet units, floating floors, windows and furniture, making Norac a “one-stop shop” for high-quality, affordable interior systems for the maritime industry. Norac products are manufactured with only first-class materials in compliance with the most exacting rules and regulations and Norac’s own strict quality control measures.
For Norwegian Version please download this file 2015 02 05 Pressemelding IMS kjøper Norac Baggerød (3)