With Kleven Verft filed for bankruptcy earlier this month, the Norwegian ship recycling company Green Yard, reached an agreement with the bankruptcy authorities, banks, and creditors to acquire Kleven.
In fact, Green Yard is about to save the troubled Norwegian shipbuilding group and resume operations under the same management prior to the bankruptcy.
Following the agreement, the ship recycling company goals to continue the shipyard operations, while expand the business to new business areas that can provide a stable supply of work concerning shipbuilding and maintenance.
What is more, the new owner plans to invest in sustainable projects for the future and add ship recycling operations to the shipyard’s already existing shipbuilding operations.
Concluding, Kleven’s expansion into ship recycling business would further offer a relief for the stretched capacity of environmentally ship recycling facilities compliant with the EU rules.