DEMANO GROUP: NEW DEFENCE AND INDUSTRY GROUP IN AGDER - NORWAY

DEMANO Group AS is being established in Kristiansand and consists of the companies Tore Olsen gruppen, Mandal Maskinering AS and KSMV AS. The name is derived from Defence and Manufacturing Nordics.

 - By bringing the companies together, we can increase both the scale and range of our deliveries, says Jostein Devold, Group CEO of DEMANO Group. Defence is currently one of the fastest-growing segments of the business, and we are positioning DEMANO Group as a solid supplier with significantly greater capacity, he continues.

The company carries out industrial production and machining of components, primarily as a supplier to industry, offshore, the maritime sector and defence, with roots dating back to the early 1900s. The group has developed into a solid industrial environment with strong and complementary expertise in machining, tool development, robotic welding, surface treatment and assembly.

- The companies in DEMANO Group have a long history and highly skilled employees. This year, we have revenues of approximately NOK 375 million, of which close to 30 percent is within defence and emergency preparedness. We intend to increase this significantly, says Jostein Devold.

 - We have key customers such as KONGSBERG, TechnipFMC, Volvo, Siemens and others, and we have clear ambitions for further growth, Devold continues.

 The combination of strong specialist expertise, advanced machinery and flexible production leaves the group well positioned to deliver both tailor-made solutions and serial production with high quality and efficiency.

- As a combined group, we can deliver a much broader range of products, and the companies' expertise and deliveries complement each other well. In addition, we will streamline marketing and quality work and achieve savings in administration and shared services, Devold concludes.

For further information:
Jostein Devold, Group CEO of DEMANO Group, mobile +479088 0049 and email: jd@mertoun.no  Web: demano.no (coming soon)

In brief:
DEMANO Group AS in Kristiansand consists of the companies Tore Olsen gruppen, Mandal Maskinering AS and KSMV AS. The company carries out industrial production and machining of components, primarily as a supplier to industry, offshore, the maritime sector and defence. The group has developed into a solid industrial environment with strong and complementary expertise in machining, tool development, robotic welding, surface treatment and assembly. The companies have roots dating back to the early 1900s and serve both national and international customers. The combination of strong specialist expertise, efficient machinery and flexible production leaves the group well positioned to deliver both tailor-made solutions and serial production with high quality and efficiency.

Tore Olsen gruppen in Tvedestrand carries out mechanical metalworking, robotic welding, surface treatment and assembly of mechanical products. The company has recently acquired Verktøymakeren AS and also owns Hamebo Maskinfabrikken AS in Denmark. The company has 35 employees in Norway and 15 in Denmark, and generates approximately NOK 110 million in revenue.

Mandal Maskinering AS in Mandal provides machining services and fabrication of smaller equipment and components. The company has 31 employees and generates approximately NOK 95 million in revenue.

KSMV AS in Kristiansand is one of the country's most advanced mechanical workshops. The company has 47 employees and generates approximately NOK 170 million in revenue.