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Solstad Offshore : SolstadFarstad ASA - Press Release 22. June 2017

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06/23/2017 | 12:14pm CEST

Solstad Offshore, Farstad Shipping and Deep Sea Supply have merged into one company - SolstadFarstad ASA. The new Company is preparing for the future.

Through the merger, the Company becomes world leading in the high-end market for Offshore Service Vessels (OSV):

- We are operating in a tough market. As a merged company, we are better equipped to meet the challenges and the possibilities that will arise. With the merger, we may benefit from synergies through operation of a larger fleet, our collective competence and experience, and hence ensure profitable operations in the future, says CEO Lars Peder Solstad of SolstadFarstad.

SolstadFarstad owns a fleet of approximately 150 vessels, and is present with offices in Norway, Australia, Brazil, Singapore, the Philippines, Scotland, Cyprus and the Ukraine. In addition to the offshore activity, the company holds significant activity within the renewable energy segment and aqua culture. The company DESS Aquaculture Shipping was established in June 2016 as a joint venture between Marine Harvest and Deep Sea Supply. The company has two well vessels and one harvest vessel under construction, all with long-term contracts with Marine Harvest.

The Management Team of SolstadFarstad consists of the following persons:

Though SolstadFarstad emerges as one company, it will be "business as usual" until further notice.

- We are now entering as phase of implementation of management and systems, mapping and establishment of a new organization, as well as starting the process of streamlining the operations in accordance with the new operational model. The new organization model, will be set in September, says Solstad.

The headquarters of SolstadFarstad is in Skudeneshavn, Norway, and the intention is to maintain operations from the offices in Ålesund, Fosnavåg and Grimstad.

- Internationally, we will maintain presence in the countries we already are established, by having one office in each country, says Solstad.

SolstadFarstad appears today with a new graphic profile, whilst the vessels will keep their respective names, funnel marks and colours.

For further information:

Press contact: Asle Skjærstad, mobil 99231919 / [email protected] to make an appointment with CEO, Lars Peder Solstad.

Solstad Farstad ASA published this content on 22 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 June 2017 10:14:15 UTC.

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