Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Teknotherm has a history dating back to 1926 as a designer, contractor and manufacturer of high quality refrigeration systems. The head office of Teknotherm is in Halden, Norway. The strategy of this company is to be the preferred supplier of HVAC- and refrigeration systems for marine and offshore installations. On 26th, November 2015, Dutch company Heinen & Hopman has bought 60% of the shares of Teknotherm Marine AS. The deal includes the subsidiary companies in China, Poland, Turkey, Sweden and Tromsø, Norway. In 2016, Teknotherm has decided to relocate the production of electronic components for refrigerated seawater systems from China to Halden, Norway. According to the news published by E24 in May, 2016, Jon Aksel Brynhildsen, CEO of Teknotherm said, despite the fact that production in China is cheaper, the quality offered in Norway and the currently weak Norwegian currency help to motivate the relocation. The recent news published by E24 in April, 2017 stated that the relocation decision is made based on an assessment of costs, quality, exchange, delivery and more efficient production in Norway. In addition, there was a need to secure jobs in Norway and preserve the necessary skills said from Jon Aksel Brynhildsen, CEO of Teknotherm.
Eurofound (2016), Teknotherm, Reshoring in Norway, factsheet number 194, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/194.
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