Oslo-listed Havyard Group’s Board has proposed that the company changes name to Eqva.
The name change reflects the company’s growth strategy and marks its transformation to a fully integrated service concern, which contributes to green transition in maritime, power intensive and renewable industries, the Group said.
“The world is changing rapidly, and we see strong macro trends that will boost the demand for new digital and sustainable solutions. We aim to be a frontrunner of these solutions and are well equipped to take advantage of the macro trends with our variety of services. Also, the changing framework conditions create opportunities for consolidation and re-engineering of industrial service companies themselves.
“The company is well placed to take the lead, be a responsible owner with an eternal investment perspective with the aim to maximise financial return over time,” said Even Matre Ellingsen, Board Chair.
“Over the last few years, our company has made significant steps forward. We have expanded our service portfolio and positioned ourselves in industries where we can make a difference by driving change towards a more sustainable future and creating strong shareholder value. We continue our exciting transformation towards being an active owner of fully integrated service companies in maritime, power intensive and renewable industries. This evolution, combined with our future ambitions, inspired the need to revisit our name and identity,” added CEO, Erik Høyvik.
The new name will be proposed to shareholders in a resolution at an Extraordinary General Meeting to be held on 14th November, 2022. Board members with ownership representing about 80% of the shares, support the proposal and will vote in favour of the resolution, the company claimed.
Eqva aims to become a fully integrated service and maintenance supplier for the Norwegian land-based and maritime industry, including cruise ships and ferries.
The group has a diversified product and market portfolio, and further growth will be established through a combination of development and utilisation of synergies between the companies in the group, as well as opportunistic M&A activities.
Key companies in Eqva are BKS, Havyard Leirvik and Fossberg Kraft.