Dutch company, Hendrik Veder Group has acquired full ownership of Myhre Rope Services.
The company was originally a 50:50 joint venture between Hendrik Veder Group and Aberdeen-based ATR Group.
After acquiring full ownership of the joint venture, Hendrik Veder Group will re-name the Norwegian company. Its new name will be: Hendrik Veder Group Norway AS, making it a fully integrated business within the parent company Hendrik Veder Group.
Berend Reinink, Managing Director Hendrik Veder Group said: "This acquisition confirms our ambition in Norway, a market which is of great strategic importance to Hendrik Veder Group. By taking full ownership of the operation in Stavanger we will be able to enhance their already outstanding capabilities and greater align it with the Hendrik Veder Group strategy and network.”
Hendrik Veder Group Norway AS is based in Stavanger, Norway, a strategic location due to its production and storage capacity as well as the availability of local expertise.