Bergen Group in yard sale

Cash squeeze: for Bergen Group

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Steve Marshall

 07 January 2013 14:16 GMT

Bergen Group has disposed of a small yard unit as part of an ongoing restructuring to relieve financial pressure on the loss-making Norwegian fabricator.

The Halsnoy yard is being sold to local company Halsnoy Dock for around Nkr30 million ($5.4 million), with the deal expected to be completed in the first quarter. Its 25 employees are set to continue in their jobs under the new owner.

The yard has previously been used to provide additional newbuilding capacity for construction of smaller offshore vessels but over the past two years has mainly been employed on conversion projects as part of the Bergen Group Services division.

The division’s executive vice president Sebjorn Madsen said the disposal would enable the…

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