Agency Agreement with Swedmec AB

The Agency Agreement consists of sales and marketing of PartnerPlasts/Molstad’s product range and associated services within Sweden, Finland and Denmark.
Swedmec is a service provider in marketing and sales for suppliers to the OEM industry. Swedmec’s primary focus is to operate as a partner to well-known global component and system manufacturers.
The Company has been serving the industry from their headquarters in Gothenburg, Sweden for more than 30 years.

The Agency Agreement will start from 1st February 2018 and will strengthen PartnerPlast/Molstad’s efforts and development in Sweden, Finland and Denmark. The Agreement offers great potential for both parties and we are looking forward to commencing this working relationship.

Contract Award for Mudmats and Pipemats

We are pleased to announce that PartnerPlast has been awarded a contract by Global Maritime AS in Stavanger for 70 Pipemats and 60 Mudmats for delivery to the Njord Field operated by Statoil.

This is our first large contract for these mats since we took over the handling of these products from Installit and we are hoping that this delivery will prove to the industry the value of using these protection mats as well as their versatility for use.

The delivery time is short and the manufacturing of the mats will run through the Summer ready for delivery during August/September 2017.

Investment in PartnerPlast AS

Investinor AS (49%), Salvesen & Thams AS (25%), Norsk Mineral AS (19%) and Oskar Invest AS (7%) have jointly established PartnerPlast Holding AS, which in turn has acquired a 100% stake in PartnerPlast AS. The investment has been made in order to help finance the company’s further growth.

PartnerPlast AS is located in Åndalsnes. The company supplies advanced equipment to the international seismic industry. PartnerPlast is market leader in the design, construction and rotation-casting of plastic, and an important manufacturer and supplier of offshore and seismic equipment and other industrial products. The company posted sales of NOK 115 million in 2013, and employs 35 staff.

“The company’s strategy focusing on seismics, offshore and industry will remain unchanged,” explains newly elected Chairman Bjørn M. Wiggen. “The owners have identified promising development opportunities in a number of areas, and by injecting new equity and expertise wish to help to realise the company’s ambitions.”

“Investinor has been eyeing up PartnerPlast for some time now, which it regards as a strong company with the potential to generate significant further growth, both organically and through acquisitions. Investinor wishes to help ensure that PartnerPlast’s growth strategy succeeds,” comments CEO, Geir Ove Kjesbu.

PartnerPlast was previously owned by Norsk Mineral AS and Oskar Invest AS.

“We have helped to develop PartnerPlast into a leading player within its market segment,” explained Norsk Mineral AS CEO Kyrre Olaf Johansen. “We are delighted to have a new shareholder on board who can help propel the company to the next level.”

PartnerPlast CEO Tom Samuelsen is looking forward to working with the new owners: “In Norsk Mineral and Oskar Invest, we have already had strong and pro-active owners, and we are delighted to be able to attract professional investors like Investinor and Salvesen & Thams. I’m looking forward to helping the company develop further both geographically and product-wise.”

If you require further information, please contact:
Chairman Bjørn M. Wiggen, tel. +47 47 82 09 37
CEO Tom Samuelsen, tel.:+47 90 14 08 45

PartnerPlast acquires Exploration Support Services Inc

PartnerPlast AS from Åndalsnes, a supplier of advanced equipment to the international seismic and offshore industry, acquires the consultancy firm Exploration Support Services Inc. (ESS) based in Houston.

─ ESS is a company we have followed for some time and we consider it an exciting growth platform for PartnerPlast, says CEO Tom Samuelsen in PartnerPlast.

ESS provides consultancy services and rental equipment to companies in the marine exploration industry. The company is based in Houston, Texas with its services being offered to customers worldwide.

─ PartnerPlast has a clear ambition to further develop ESS within the core areas of business today, but also use the geographical location as a sales office for the products PartnerPlast offers to the seismic and offshore industry, says Tom Samuelsen.

─ I have known PartnerPlast for many years and strongly believe that with PartnerPlast as an owner, ESS can further develop and grow its services as well as further establish PartnerPlast in North and South America, tells former owner and CEO of ESS from new year Knut Fostad.

Key facts about the companies:

Exploration Support Services had revenues of approximately 8 million NOK in 2013, and has several experienced resources connected to the company. ESS is based in Houston, Texas and was established in 2008.

PartnerPlast AS is localised in Aandalsnes and has 34 employees. Total revenues in 2013 was 114 MNOK. The company is leading within design, construction and rotational moulded polymer and is a very important supplier of offshore, seismic and industry products.

PartnerPlast AS was acquired by Investinor, Salvesen & Thams, Norsk Mineral and Oskar Invest earlier this year: http://partnerplast.no/News/investering-i-partnerplast-as.html

Inquiries

CEO PartnerPlast Tom Samuelsen, phone +47 901 40 845

Aandalsnes / Houston 06.10.2014

Visit Exploration Support Services website here

PartnerPlast AS acquires Molstad Modell & Form AS

PartnerPlast AS from Aandalsnes, a supplier of advanced equipment to the international seismic and offshore industry,
acquires the model and mold workshop Molstad Modell & Form AS located in Moelv, Norway.

Molstad Modell & Form (Molstad) has through many years been a supplier to PartnerPlast, and has over time specialized in delivering projects and molds to produce products in polyurethane.

─ The acquisition of Molstad is a central next step in our growth strategy. We strengthen our in-house competence on modelling and molds, and get an organization that can handle production of products in polyurethane which PartnerPlast shall take a strong position on going forward, says CEO Tom Samuelsen in PartnerPlast.

PartnerPlast launched new polyurethane products to the seismic industry during the EAGE fair earlier this year. Molstad has been a significant contributor to this development. In addition to being a leading player within the core area, Molstad has also developed a solid position among the industry in Oppland and Hedmark.

─ PartnerPlast wants to continue developing the strong organization and competence that is already in place at Molstad. We do this through establishing a production line that can produce products in polyurethane in the Molstad facilities. We also want, through Molstad, to work closer with the industry in Hedmark and Oppland, says Tom Samuelsen.

Molstad will stay as a separate entity and localized in Moelv where further expansion and growth will be the focus. The acquisition will not affect the current customers of Molstad Modell & Form. The current CEO of Molstad, Tor Henning Molstad, will stay in the role going forward.

─ We know PartnerPlast well through many years of cooperation and has a strong belief that they will be a good owner of Molstad. This will strengthen the company and by that, the conditions to supply even better products and services to current and new customers. I look very much forward to lead the company going forward, says CEO and founder of Molstad Modell & Form AS Tor Henning Molstad.

Facts:

  • Molstad Modell & Form AS had revenues of 11 MNOK in 2014 and has 9 employees. The company was founded in 2002 and is localized in Moelv.

  • PartnerPlast AS is localized in Aandalsnes and has 44 employees. Total revenues in 2014 was 140 MNOK. The company is leading within design, construction and rotational moulded polymers and is a important supplier of offshore, seismic and industry products.

  • PartnerPlast AS is owned by Investinor, Salvesen & Thams Invest AS, Norsk Mineral and Oskar Invest AS.

Inquiries:

CEO PartnerPlast Tom Samuelsen, +47 901 40 845

CEO Molstad Modell & Form Tor Henning Molstad, a href=”tel:+4791702576″>+47 917 02 576

New products: Grips, Slider & UnderWater Generator

PP Grips

The grips is equipped with hinges for easy and fast instalment and removal while giving the cable the best protection against over bend. Typical use is attachment points for flotation, inner lead ins spreader ropes, gun umbilical’s as attachment to diverters or lead ins. To achieve good friction and compression aver the cable, steel bands is used.

Read more about PP Grips

PP Slider

The Slider is designed to slide down a lead in for attachment to flexi float system, lead in flotation or other temporarily installed equipment while protecting the lead in from over bend.

Read more about PP Slider

PP UW120 UnderWater Generator

The PP UW 120 is a generator made for continuous power generation in underwater installations. The generator is using the most modern permanent magnet technology providing a durable power source for your underwater applications. To avoid corrosion problems, the body of the generator is completely encapsulated by Polyurethane. Metallic parts, as propeller-shaft and mounting sleeves, are made of Duplex steel. These generators will be compatible with previous generators delivered by PartnerPlast due to the same installation points and physical dimensions. The electrical interface is two phase AC voltages suitable for both 12 and 24V systems.

Read more about PP UW120

PartnerPlast aquires MudMat® and PipeMat from Installit

PartnerPlast has taken over the ownership of MudMat®, a protection mat used specifically for subsea operations, developed by Installit. The MudMat® will be manufactured by
Molstad Modell & Form, which is a subsidiary of PartnerPlast. The MudMat® forms part of a product range covering protection equipment made from polyurethane (PU) and is suited for use during subsea and offshore operations. The acquisition also includes PipeMat, another product in the protection mat series.

«PartnerPlast and Installit have previously entered into a Cooperation Agreement with regards to the product development, and the fact that PartnerPlast now takes over the ownership of MudMat®is a result of the good cooperation we have had in the past» says Ivar-Andreas Monefeldt, General Manager of Installit. «PartnerPlast has a renowned sales organization and the potential of delivering MudMat®to a wider market, also outside the Oil & Gas Industry, is considered high. Our objective is to focus on further development of sought after products and our close cooperation with PartnerPlast will continue to prove just as important in the future.«

The product fits our strategy well in our aim to further develop protection equipment in PU for our current, and potential, customers” says Tore Lien, Sales Manager for PartnerPlast PU-division. “We aim to become a leading supplier of protection equipment for cables, risers and other structures offshore. We consider MudMat®to be a valued addition to our current range of products.»

Sales contact at PartnerPlast:
Tore Lien
Tore.lien@partnerplast.com

Introducing Alex Corbett – Sales Manager Canada

PartnerPlast is in constant development and we are pleased to inform you that we have taken yet another step in extending our area of operation.

We have looked upon Canada as a very interesting area for PartnerPlast to do business over a long period of time but due to our lack of presence and the long-haul travel we have not been able to servicing the area as well as we have liked. Therefore, we have entered into a 4-year agreement with Alex Corbett of Corbett Enterprises Inc in order to strengthen our position in Canada.

Alex will represent PartnerPlast as «Sales Manager Canada» and he will be responsible for all sales activity to potential customers within Canada where he will front the entire PartnerPlast’ range of products.

Alex has extensive experience within the field of oil and gas with 42 years employment working for various companies. He has been involved with everything from management, rigging and manufacturing during this time and he has built up a respectful reputation along the way. Alex established Corbett Enterprises Inc in 2015.

Alex is based in St Johns, Newfoundland and with his broad experience, knowledge and contacts within the industry we envisage a great potential in this working relationship with Alex Corbett.

Head of Business Development – Offshore & Subsea

Charl Burger has joined the PartnerPlast Group as Head of Business Development Offshore & Subsea. He will commence in the position on 1st August 2017.

Charl brings with him extensive experience and a background from Offshore and Subsea Engineering & Installation, with most recent lead/engineering positions in Technip and DOF Subsea. He aquired his degree at the University of Virginia BSc ME, Mechanical Engineering.

Charl will play a leading role in the further development of the Polyurethane Product (PU) Portfolios and Buoyancy for Offshore Applications, within the Offshore Wind and Oil & Gas markets. In addition, he will assist PartnerPlast in strengthening focus on project specific product development & sales.

“We look forward to Charl joining our team. PartnerPlast has already taken several steps within the PU venture, and we look forward to continued development and growth within project sales and new markets such as Offshore Wind. Charl has a solid background and will lead this work forward.” says PartnerPlast CEO, Tom Samuelsen.

About PartnerPlast:

PartnerPlast is a leading player in rotational moulding, buoyancy, polyurethane, molds and models for the Offshore Industry. PartnerPlast also has inhouse developed electronics and integrated products for the Seismic and Aquaculture markets. The company is based in Åndalsnes, but also has locations in Molde, Moelv, and presence in Houston, Perth, St. Johns and an agent in China.

Åndalsnes 02.06.2017