Bergen Group Subsidiary Files for Bankruptcy

zoom Norways Bergen Group has started bankruptcy proceedings at one of its wholly-owned subsidiaries citing lack of new orders and failing results in the companys shipbuilding and offshore departments as the main reasons. Sunde-headquartered Bergen Group Skarveland, a supplier of complete pipe installations for the ship, offshore and land based industry, reported a turnover of NOK 32 million and an operating loss (EBIT) of NOK 9 million for the first six months of 2015. The companys business has been related to pipe installations towards building of ships and deliveries for the offshore and onshore industry. Both the shipbuilding and offshore market have over the past year experienced cutbacks, which have had a strong negative impact, Bergen says. Bergen Group Skarveland employed 70 permanent workers as of August 31.