Kongsberg Oil & Gas Technologies Buys Apply Nemo, Norway

Kongsberg Oil & Gas Technologies AS (KOGT), a wholly owned company of KONGSBERG, has entered into an agreement to acquire 100% of the shares in Apply Nemo AS, an independent supplier of engineering services, products and solutions for subsea oil and gas applications. The acquisition, which is expected to be completed in January will strengthen KOGT`s deliveries to the subsea oil and gas market.

Apply Nemo was established in 1989 with focus on subsea pipeline engineering and complex solutions and has since been transformed into a product focused organisation offering extensive experience in both subsea engineering and the development and manufacture of subsea products. With head office in Oslo, Norway, the company currently has 172 employees and a strong market position in the North Sea and Australia, where it has established a business location.

“Apply Nemo is an excellent match for KOGT because of its technological and product related focus, industry competence, culture and core deliveries,” states Pål Helsing, President and EVP, KOGT. “KOGT`s vision is to become a recognised supplier of world class subsea solutions based on innovative and value added products and technologies. We are very pleased with the acquisition, and see this as a platform for sustainable growth for KOGT in the subsea market.”

“Having developed and fine-tuned our products and services throughout the years, we are really looking forward to joining a top class technology organisation like KONGSBERG. We are keen to integrate with KOGT`s subsea division and are confident that this will benefit customers, employees and future technology development”, adds Håkon Strømberg, Managing Director, Apply Nemo.

Press Release, December 10, 2012

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