Bergen Bunkers and OW Bunker, two of the world’s leading suppliers of marine fuels and lubricants, today confirmed a strategic cooperation by which OW Bunker will acquire the entire share capital of Bergen Bunkers AS.
Bergen Bunkers has offices in Bergen and St Petersburg, and provides fuel and lubricants to some of Norway’s leading ship owners and operators, as well as global customers. Bergen Bunkers employs 12 staff, and will retain its existing brand name, operating as an integrated and wholly owned subsidiary of OW Bunker.
Sveinung Juvsett, Managing Director, Bergen Bunkers AS, said: “OW Bunker provides a good strategic fit for Bergen Bunkers. With the financial strength and global scale of OW Bunker there are clear synergies between both organisations, which we plan to optimise for the benefit of all our customers.”
Götz Lehsten, Executive Vice President, OW Bunker, said: “This is a significant acquisition for OW Bunker that further strengthens our operations in Scandinavia. Bergen Bunkers is an excellent brand name with a great reputation, and provides us with a good opportunity to further grow our position in an important region for our customers.”
The acquisition is expected to be finalised by the end of November 2012, following approval from the relevant competition authorities.
About OW Bunker
OW Bunker is one of the world’s largest suppliers of marine fuel oil and related services. The Group’s core activity is the global sale of bunkers both from its own physical inventories, where it operates over 30 large and small tankers in its global fleet, as well as an intermediary trader. OW Bunker also provides advanced risk management tools and services in an increasingly unpredictable oil market and volatile global economy, and also purchases and sells entire oil cargoes.
The Group is represented in 25 countries world wide, spanning Europe, Middle East, Asia, Africa and the Americas and commands more than 8% of the global bunker market.
About Bergen Bunker AS
Bergen Bunkers AS is an international company arranging bunkers and lubricants to Norwegian and foreign vessels world-wide. We have worked hard since inception in 1977, to facilitate growth and become a leading bunker company. Through our world-wide network of contacts, we are able to supply bunkers and lubricants in all ports of the world.