Hurtigruten Takes Over Kleven Shipyard

By ,   June 13, 2018 ,   Cruise Industry

The affiliate company of Hurtigruten, KVE Holding, is taking full control of Norway's Kleven Shipyard (in Ulsteinvik Norway) through buying the yard's remaining 60% shares.

In September last year, Hurtigruten bought 40% shares in Kleven, after the shipyard was hit by financial crisis.

Under the latest deal, Kleven Maritime Contracting, Kleven Maritime Technology and Kleven Shipyard are sold to Hurtigruten.

shipyard Kleven Verft (Ulsteinvik)

After the acquisition, the cruise company will provide NOK 600 million (US$75 million) financing to the shipyard in order to facilitate its cruise ship building capabilities.