Kongsberg Gruppen to spin-off its Kongsberg Maritime.

Kongsberg Gruppen, an international technology group, agreed to spin-off its Kongsberg Maritime, a provider of maritime technology systems. Financial terms were not disclosed. “This will further strengthen competitiveness in our efforts to create value in a world where security and sustainability are expected to dominate in the coming decades. Individually, the companies will gain better navigation opportunities and execution capabilities within their respective markets. Both companies will continue to have significant national strategic importance with headquarters in Norway,” Eivind Reiten, Kongsberg Gruppen Chair of the Board.