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Hitec Products and Anzett unite
Anzett and Hitec Products unite, having their head office in Stavanger – Norway.
The Stavanger enterprises Anzett and Hitec Products unite and become the world’s leading supplier of electro hydraulic control systems for the Oil & Gas industry. Ambitions are high, and within a period of two years the new Company shall have a turnover beyond 500 million NOK.
In addition to the head office in Stavanger, the Company will be represented with offices both in the UK and USA.
The Company is part of the BR Industries Group. This corporation is the actual engine in this campaign and will after the fusion have approximately 500 employees and a turnover in the order of 850 million NOK.
“- The most important drive behind this event is the additional value created. Further to the importance that this merge has for us, it will contribute to strengthen the role of the Stavanger region in the Oil & Gas industry on national and international basis”, says Bjørn Rygg, President of BR Industries.
Jointly with Jan T. Narvestad and Tor A. Deisz, respectively Managing Directors of Anzett and Hitec Products AS, Rygg expresses that combining forces has a series of advantages.
“- By increasing the size of the company, competitive force will increase and offer better conditions for continuous development of the operations. Our production capacity will increase significantly. The new Company’s size will allow us to play a larger role internationally. Last but not least, bigger muscles will make it possible to invest more in technology as well as increase focus on Research & Development (R&D). This transaction will have a large and positive impact for BR Industries, reinforcing our place in the market as a whole.”
The new Company, consisting of Anzett & Hitec Products will in the current year have a turnover of about 360 million NOK, and 140 permanent employees.
Joining forces will give the new organization increased market power. Having this as a foundation, our ambitions are also high. Our goal is that this joint venture will have a turnover above 500 million NOK, within a period of two years.