HitecVision establishes large new industrial group

Stavanger, February 12th, 2020

HitecVision announces the establishment of Moreld, a large, new industrial group based on 20 of the companies in its portfolio. While these companies currently concentrate on the oil and gas industry, Moreld will provide them with the resources needed to accelerate a development into other segments of the energy sector, including the rapidly growing renewables market. The company will have approximately 3,600 employees, and in 2019 had a combined revenue of 8.8 billion Norwegian kroner (NOK), with an EBITDA of NOK 483 million. Based on the companies’ strong order backlog, further growth and strengthened profitability are expected for 2020.

Agility Subsea Fabrication is part of Moreld