Tersan Shipyard Acquires Havyard Leirvik Shipyard, Norway

Tersan Shipyard, leading shipbuilding company in Turkey, has announced the acquisition of Havyard Leirvik Shipyard, one of the group companies of EQVA Norway. The acquisition is expected to strengthen Tersan Shipyard's position both in Northern Europe an

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Havyard Leirvik Shipyard is established in 1918 and located close to Bergen at the mouth of Norway’s and northern Europe’s longest fjord, the Sognefjord with a total area of 98.000 sqm. The yard is a well-known shipbuilding company in Norway, with a long history of producing highquality vessels and providing repair and maintenance services for the existing ships. Thanks to the acquisition of Havyard Leirvik Shipyard, Tersan Shipyard will strengthen its operations in Europe, increase its production capacity and will have chance to develop collaborative working methods. This acquisition will enable both yards to combine their expertise, know-how, customer portfolio and provide more attractive services for the building of wider range of highquality vessels, after-sales services and for general ship maintenance activities.

"We are very excited to announce the acquisition of Havyard Leirvik Shipyard," said Ahmet T. Paksu, the vice chairman of the board of Tersan Shipyard. “We believe that the acquisition of Havyard Leirvik Shipyard is a significant step forward for Tersan Shipyard. We have already been collaborating with Havyard Leirvik on project base cases, although such collaboration had been only to some extent it has always worked well and showed promising signs for a potential more expanded partnership. By combining our expertise and resources with those of Havyard Leirvik Shipyard, we are confident that we will be able to achieve our long-term goals and strengthen our position in the global shipbuilding industry. Thanks to EQVA and Havyard Leirvik for their support to provide a smooth transition between the companies.”

“We are looking forward to becoming part of Tersan Shipyard. It is a highly reputable company with a good standing in international shipping and maritime circles, and with a clear ambition to further strengthen its position in Northern Europe with Havyard Leirvik as steppingstone,” said Tor Leif Mogstad, CEO of Havyard Leirvik.

The acquisition will be completed by the end of the year, subject to regulatory procedures and approvals.