PRESS RELEASE, BERGEN/HAVØYSUND, 25 AUGUST 2022

Frydenbø Industri announced today that they will restart operations as early as next Monday. This time, they are bringing local owners into the operations on the slipway.

Frydenbø Industri Havøy AS

- We have great faith in the market in Finnmark and wanted to find local commitments for the new operating company. We are therefore very pleased that we are now able to start the plant together with local investors," said CEO of Frydenbø Industri AS, Per Jarle Røyrvik.

The "Slippen" slipway in Havøysund has been in continuous operation since 1935 until this summer when the operating company announced its closure. Frydenbø Industri AS took over Frydenbø Industri Havøysund (formerly Havøysund Patentslipper) in 2018 from the Seppola family. It became clear last Friday that Frydenbø Industri would be allowed to buy the estate, in order to restart operations in Havøysund through a new operating company: Frydenbø Industri Havøy AS.

- We have had a strong desire to restart operations, and it is therefore nice to inform customers and the community that we will be fully operational at the plant again already from next Monday! said Røyrvik.

Photo: Per Jarle Røyrvik, CEO of Frydenbø Industri AS. Photographer: Trude Brun Wilhelmsen.

Local ownership and management

After the purchase of the estate, Frydenbø has cooperated well with local investors to establish a local consortium that can contribute with knowledge of the local market and be part of the owners team. This week, the parties agreed to start up operations as early as next week. Frydenbø will be the majority owner, but the final ownership composition has not been clarified. The majority of the owners outside Frydenbø will be employees who will work at the slipway.

- We look forward together with Frydenbø Industri to once again create a solid company with sustainable jobs." said the new general manager, Arnt Helge Knutsen.

Reversing the trend

After several years of poor results, the owners believe that a new crew and new rig with locally rooted ownership will reverse the negative trend at the slipway.

"We are confident that our customers will use us, and we see the value of having a local supplier here in Havøysund," Knutsen said.

Frydenbø Industri, see more info about the company here: www.frydenbo-industri.no

For questions related to the information provided above, please contact the Director of Communications at Frydenbø Group, Silje Ulla-Zahl suz@frydenbo.no +47 928 35 966, or directly with:

Arnt Helge Knutsen, 951 12 033, CEO of Frydenbø Industri Havøy AS

Per Jarle Røyrvik, 916 41 944, CEO of Frydenbø Industri Holding AS