Nordic Business Report-April 6, 2006-CorrOcean ASA divests UK subsidiary iicorr Ltd
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The Norwegian corrosion and condition monitoring solutions and services provider CorrOcean ASA said on Thursday (6 April) that it has agreed to sell its 85% stake in the Aberdeen-based subsidiary iicorr Ltd to Stork NV.
The sales price is NOK35m, which will result in an accounting gain of approximately NOK10m.
iicorr, which employs over 100 specialists, operates in Aberdeen in the United Kingdom, Kuala Lumpur in Malaysia and Perth in Australia.
One Norwegian krone (NOK) is worth approximately 0.08 British pounds (GBP).
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