Samherji buys shares in Rem Offshore ASA in Norway

02.11.2007
Samherji buys shares in Rem Offshore ASA in Norway
Samherji´s subsidiary Kaldbakur has bought 2.444.446 shares in Rem Offshore ASA in Norway at the rate 53,50 and will in due course own 6,24 % of the total shares. Five shareholders of total 50,51% shares have, at the same time, entered into an agreement to act as one in General- and Shareholders meetings and on first option of shares. This was announced to the Norwegian Stock Exchange this morning.
Rem Offshore ASA is an owner and operator of modern and large offshore service vessels operating in the North Sea, Gulf of Mexico, India and Brazil.The Company currently owns 19 vessels, whereas 7 are in operation and 12 are new builds, to be delivered within the next 3 years. Rem’s vessels can serve three different market segments, seismic, supply and subsea and the focus is on maintaining a fleet of modern, well equipped and sophisticated vessels satisfying the customers’ need for technical and environmental solutions.  Rem Offshore has a well balanced contract composition, spot exposure vs. long-term contacts. The Company’s headquarters are located in Fosnavåg in Norway and employees are currently around 300. The operations of Rem Offshore have grown substantially in the last two years; the turnover is estimated 420m NOK in 2007 compared to 189m NOK in the year 2006.  The Company was listed on the Norwegian Stock exchange in March this year (REM NO).

With this purchase Samherji is entering a new sector in its operations.  ”Rem Offshore is an exciting, fast growing company with a clear vision for the future and we believe that the offshore business has good prospects. The knowledge of Samherji´s staff will strengthen this investment as well as new knowledge will be acquired. It is my belief that this purchase is a good investment for Samherji”, says Þorsteinn Már Baldvinsson Director of Samherji.

For further information please call Þorsteinn Már Baldvinsson Tlph.+354 460 9000

Information about Rem Offshore ASA is available on www.remoffshore.no  

Below are samples of the ships in the Rem fleet
rem_supplier_400  

PSV (Platform Supply Vessels):

Rem Supplyer

Rem Provider
Rem Server
Rem Spirit
Rem Supporter
116 Simek

Length      73,60meters
Breadth     16,00meters
Draft           5,8 meters
rem_commander_400MPSV (multipurpose PSV) vessels:

REM Commander
REM Fortress
REM Etive
REM TBN

Length      93,50meters
Breadth     19,70meters
Draft           6,24 meters
rem_balder_400 AHTS (Anchor Handling Tug supply)vessels:

REM Balder
REM Odin
REM 324

Length     78,30 m
Breadth 17,20 m
Depth Main Deck   8,30 m
Max Draft Midship 6,80 m
Back