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– We are still losing money so we are impatient. That should have been done a little earlier, said Geir Håøy, CEO of the Kongsberg Group.
He talks about his recently completed acquisition of Rolls-Royce Commercial Marine. Kongsberg Gruppen is now using intensively to try to take advantage of the deficits of the former British company, while merging it with Kongsberg Maritime.
During the presentation of the first quarter results of Kongsberg Gruppen on Friday, the company also presented more information on Rolls-Royce Commercial Marine's projects.
The $ 1 billion acquisition was announced last summer and officially completed on April 1 this year.
Financial Director Lisa E. Haugan of Kongsberg Maritime described the company's plans in more detail. They will save 200 million per year during the year and 500 million per year by the end of 2022.
"We are currently holding public meetings in the organization today and in the future and we wish to reduce the number of full-time employees by 260 currently," Haugan said.
How many posts are being cut in Norway, the company will not come out yet, but further cuts in the future will not be ruled out by Kongsberg management.
"In addition, we have launched the process of selling the plant in Vung Tau Vietnam to the Bridge Machinery business," she continued.
The plant produces in particular deck hardware for seismic vessels, submarine vessels and some crane equipment. Once the E24 is informed, the installation can be sold or simply installed.
Kongsberg Gruppen thinks he'll have the Rolls-Royce Marine in addition in two years
– It's urgent
The downsizing will come after the previous reductions at Kongsberg Maritime and Rolls-Royce Marine after the full oil brake braking.
– Can there be more cuts in the future?
– We are announcing some measures today and that is what we have identified so far. Our goal is to move Rolls-Royce Commercial from red numbers to black numbers (to the benefit of journ.anm) as quickly as possible, says CEO Geir Håøy of Kongsberg Gruppen at E24.
On Friday, the company announced its goal of making RRCM a positive operating result within two years.
– It is urgent to start and it is the first initiative. We start where we see that we can arrive at something immediately and where we see the challenges to be met – and this is at Deck Machinery and something in the production facilities, including in Vietnam, Håøy says and continues:
– We must return to the question of whether there are other appropriate measures. It is too early to say now, adds Håøy, pointing out that it has been more than a month since the company officially acquired Rolls-Royce Marine and acquired a complete vision of the company.
He is concerned that they must constantly adapt the two Kongsberg Maritime
Must close 20 offices
Lisa Haugan said Rolls-Royce Commercial Marine is in deficit in the Deck Deck and Ship Design / Motion divisions.
– Propulsion and service are operating as expected, given the current market conditions, but when we look at market conditions, especially in the field of seismic and offshore for Deck Machinery, we find that they were hit hard by the crisis (the oil brake, the newspaper). The new construction is also at a historically low level, said Haugan.
The Kongsberg Group also plans to close 20 offices in its global network, which overlap between the two companies being merged.
Other measures to be implemented include the transfer of subcontractors to subcontractors of part of the production currently carried out internally, but which are not considered as part of the activity. main.
– Although Rolls-Royce and Kongsberg complement each other in many areas, we have an overlap in Automation. It is natural that we consider a merger of these entities, said Haugan.
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