Update of quantity
Please note, the order volume has been updated. This is due to package and minimum order quantities.
Please note, the order volume has been updated to. This is due to package and minimum order quantities.
Schaan (FL) / Klepp (Norway), June 6, 2017 – Hilti Group is extending its business in the oil, gas and wind offshore markets with the acquisition of Norwegian Oglaend System Group, a leading manufacturer of cable management solutions and multidiscipline support systems for the offshore industry. It has been agreed with the owners of the group that the purchase price will not be disclosed. The transaction is still subject to approval by the antitrust authorities.
Oglaend System is headquartered in Klepp, Norway, and runs subsidiaries in 14 countries on a global scale. The privately held company employs approximately 400 people worldwide and was founded in Norway in 1977. The transaction is a significant strategic step to become a strong player in the offshore sector.
“Similar to Hilti, Oglaend System is well positioned in the market, and its brand is associated with high-quality products and value adding services among its customers and business partners,” said Matthias Gillner, Member of the Executive Board of the Hilti Group. “Since our corporate strategy is to create sustainable value through strengthening of the market position and differentiation, we believe these two companies are a great fit.”
With the demand for energy from oil, gas and wind forecast to grow further, owners and operators of offshore installations need to continuously invest into existing facilities to maintain current production levels and into new production capacity. While Hilti is a strong player in this industry sector, offering structural steel applications like grating fasteners, Oglaend System is a leading supplier of both multidiscipline support systems as well as electrical and instrumentation solutions like modular supports and cable trays and ladders. Customers of Hilti and Oglaend System will benefit from highly complementary solutions and a much wider choice of integrated solutions.
Oglaend System’s headquarters will remain in Klepp, Norway, and operate as a combined entity together with Hilti’s offering for the offshore sector. Both Geir Austigard, CEO of Oglaend System, and the management team will remain in office and will continue to successfully manage the combined global offshore business.
Oglaend System’s founder, Gunnstein Austigard, and his family will continue to participate in the company. “We are convinced that by building a strong union with such an innovative and financially strong company like Hilti and using our common expertise, we will create many new opportunities together,” he added. “We are looking forward to this cooperation.”
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