From SørcoGruppen to Apply Group

27.10.2009
The owners of SørcoGruppen have long observed that their company portfolio represents a solid potential for further structuring in order to facilitate execution of larger on- and offshore projects, SørcoGruppen has therefore changed its name to Apply Group, and has coordinated its business strategies with Apply AS to establish Apply group, as a strong presence on the Norwegian continental shelf within maintenance, modifications and EPCI projects. We are now in the process of changing the names of the affiliated companies.

Per Bjørn Habbestad (52) – with a broad experience base from HMV/Umoe/Vetco/Aibel – has been recruited as CEO and will coordinate operations and strategies in the various companies, while Pål Selboe Valseth (39) – with experience from KPMG, Telenor and Simtronics – has been appointed as CFO.

We are in the process of changing the names of the subsidiary companies in order to clarify the new profile within the group. Thus Leirvik Module Technology will now be known as Apply Leirvik , while Sørco will become Apply Sørco. Capnor is changing to Apply Capnor and Steelcad Consultants is converting to Apply Steelcad. A number of name changes are being implemented in a similar manner in the affiliated companies, as is described in detail on www.applygroup.no

Apply Group comprises the following business areas:

• MMO/EPCI (where Apply Sørco is the Centre of Excellence)
• LQ & Assembly (with Apply Leirvik as CoE)
• Systems & Products (with Apply O&G as CoE)
• Solutions and Service (with Apply TB as CoE)
• Subsea (with Nemo Egineering as CoE)

Apply Group has an annual turnover of some 3 billion NOK and 1750 permanent employees.
HitecVision and Køhlergruppen are the main owners of Apply Group, as well as some minority shareholders in the various subsidiaries.

More about Apply Group

• Apply Group comprises the following companies: Apply Sørco, Apply Capnor, Apply Steelcad, Apply Leirvik, Apply Leirvik Emtunga, Apply Leirvik Reanco, Apply AS, Apply TB, Apply Oil & Gas, Nemo Engineering, Haatech and a number of international subsidiaries.
• Apply Group is owned 50/50 by Køhler gruppen and Hitec Vision who both have the ability and ambition to develop the group into a complete MMO and EPCI partner for our customers.
• Apply Group is the leading supplier of control systems and products, as well as comprehensive supplies and services on- and offshore.
• Apply Group also has a leading global position in living quarters as well as advanced products and systems for deep water pipelines.

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