Norwegian ship recycling company Green Yard has taken over Kleven Verft (pictured), which filed for bankruptcy earlier this month after failing to secure a loan.
Green Yard claimed that it had reached an agreement with the bankruptcy estate and the banks to take over the yard, which builds expedition cruise ships, plus offshore type vessels.
The new name of the yard will be Green Yard Kleven. In addition to continuing shipbuilding, the new owner said it will also focus on developing new business areas.
Green Yard Group is one of Norway’s leading companies in recycling ships and rigs and this move will make it a complete shipyard group in Norway, the company claimed.
Management of Kleven Verft and its two subsidiaries, Kleven Maritime Contracting (KMC) and Kleven Maritime Technology (KMT), filed for bankruptcy on 3rd July. All 400 employees were laid off.
Kleven was purchased in January of this year by Croatian DIV Group, a consortium of maritime and metal processing companies, which also acquired the Croatian shipyard Brodosplit in 2013.
Later, additional details emerged on the sale. Divisions of the bankrupt shipbuilder are being sold independently in an effort to maintain employment and the keep the companies operating.
Following the agreement with Green Yard, KMT employees have agreed to buy the division from the bankruptcy officials. According to the announcement, this division, which focuses on marine technology, will continue its operations uninterrupted under the leadership of Trond Liavaag.
KMT had helped Kleven to develop advanced technologies in recent years. For example, Kleven had recently built two hybrid cruise ships for Hurtigruten that use the world’s largest battery power systems.
KMT said that its operations were profitable and that it had only been included in the bankruptcy because of its parent company. In addition to its work with Kleven Verft, KMT has a large external customer base.
For example, it had several assignments from Hurtigruten as part of a major rebuilding project and is also working with the German yacht builder Lürssen on a superyacht project. The management team said that the goal was to increase the company’s scope.
KMC, which supplied staff to the shipyard and customers, was also sold off independently of the shipyard. The contracting business, which employed about 225 of the 400 people at Kleven was sold to the Langset group.