Kleven sold to Croatian interests

2020-01-27T23:06:01+00:00 January 27th, 2020|Technology|

The Hurtigruten-owned shipbuilder Kleven Werft has been sold to the Croatian DIV Group.

The group owns the Brodosplit shipyard in Croatia.

“I am incredibly happy on behalf of all employees in Kleven that we are now in the process of acquiring a new and solid owner of the yard. Through a difficult period we have managed to deliver fantastic ships,” said Kleven CEO, Kjetil Bollestad. “Now we, together with new owners, will think long-term and develop further. This will be a new and exciting era for all Kleven employees.”

Kleven recently delivered two high-tech cruise ships to Hurtigruten. In 2017, an inverstor group, led by the Norwegian coastal ferry company, took a 40% stake in the yard, when it was in financial difficulty. The following year, Hurtigruten acquired a 100% stake in Kleven Werft, which at that time was experiencing delays in delivering the two new vessels.

“I am most pleased that Brodosplit, which we managed to place extremely well in the segment for the construction of medium-sized and Polar cruise ships, has found a business partner with whom they will be able to achieve top results,” said Tomislav Debeljak, DIV Group owner and CEO.

“I also expect lower construction costs and significantly lower costs to finance new projects. The total savings that can amount to up to five per cent will allow us not only to increase our profitability, but also competitiveness.”

Kleven will retain its name and identity as part of the DIV Group portfolio. The agreement is expected to be implemented within the next few weeks.

“Several potential buyers have been assessed, and we are absolutely sure that DIV Group is the right owners for Kleven. No one else has been able to demonstrate such a safe and long-term plan for the yard. This is a perfect match,” said Ola Beinnes Fosse, Kleven Verft CFO.