Kongsberg Maritime is enhancing its marine propulsion capabilities by acquiring Berg Propulsion, a move that follows its recent emergence as an independent public company. This acquisition is viewed as a strategic initiative to bolster Kongsberg’s position in the newbuild market and to create additional opportunities in aftermarket services. Kongsberg Maritime, which has solutions installed on over 30,000 vessels globally, emphasizes its strength in high-value, performance-driven maritime propulsion segments.
Founded in 1912, Berg Propulsion has transformed from a small shipyard into a modern provider of advanced marine propulsion solutions, with an installed base of around 4,000 vessels primarily in the general cargo and product tanker markets. Kongsberg Maritime’s CEO, Lisa Edvardsen Haugan, stated that this acquisition is pivotal for growth, allowing the company to better serve a diverse range of customers and vessel segments through an expanded portfolio and enhanced lifecycle support.
The integration of Berg Propulsion into Kongsberg Maritime is expected to create new aftermarket opportunities and leverage Kongsberg’s global service network to support Berg’s extensive installed base. While financial details of the acquisition remain undisclosed, it is reported that Berg Propulsion generated revenues exceeding $180 million last year, showcasing a robust growth trajectory.
Kongsberg Maritime also noted that the maritime industry is rapidly evolving, driven by digitalization and sustainability demands. Despite a strong backlog linked to newbuild activities, the aftermarket has been slower, with customers hesitating on larger upgrade projects.
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