Nutec gets new owner

April 25, 2000, 15:45 CEST

The Norwegian Underwater Technology Centre (Nutec) in Bergen is being acquired by the Rotterdam-based Marine Training Centre (MTC).

A letter of intent on this sale was signed by the MTC with Nutec's present owners – Statoil, Norsk Hydro and Vesta – just before Easter.

The transaction will reinforce Nutec's present status as the world's largest supplier of emergency response and safety training to the marine and offshore industries.

Some 35,000 participants take Nutec courses in Norway and the UK, and uniting with the MTC will give access to new markets.

The Dutch company provides training to international standards for shipping and oil-related operations at four centres in the Netherlands, and has a presence in the Philippines and Malaysia.

Nutec has built up a strong position in Norway, reports Martin Sigmundstad. He is vice president for industrial development at Statoil, which has held a stake in the centre for 25 years.

Mr Sigmundstad describes the MTC sale as a natural development in the maritime sector for Nutec, and says Statoil will remain a good customer.

A new owner will provide fresh market and development opportunities, which the MTC will be better placed to pursue than the present shareholders.