Integration Process

Since Havyard Group acquired a majority stake in MMC Tendos Holding in 2012, there has been an ongoing process of integration of the company's activities in Havyard Group.
In connection with the acquisition of MMC there was established a new business area in Havyard Group which was responsible for equipment for handling and refrigeration of seafood for fisheries and aquaculture. In March this year it was decided to change the name of the company and the business area of MMC Tendos Holding AS to Havyard Fish Handling & Refrigeration AS.
The ongoing process of IPO Havyard Group has made it natural to finalize the integration of former MMC, and Havyard Group has therefore acquired the minority shareholders' share of Havyard Fish Handling & Refrigeration AS (with Leif Gjelseth as largest shareholder) and now owns 100 % of the company.

Faith in Havyard
Leif Gjelseth, founder and former majority shareholder of MMC Tendos Holding strongly believes in Havyard Group and Havyard Fish Handling & Refrigeration’s role in the group where they can deliver everything from stand alone systems and packages to external shipyards to integrated packages to Havyard designs built at Havyards own shipyard. Gjelseth has therefore, through his company Erle Invest acquired a significant number of shares in Havyard Group ASA.
- When I sold the majority of my shares in MMC to Havyard Group in 2012 it was with the belief that closer collaboration between MMC, which provides solutions for handling of fish and Havyard which designs and builds fishing boats would generate products that were better than what we had the opportunity to in a typical customer / supplier relationship. Since that time we have worked with product development, integration and the realization of synergies and I believe we are on track to achieve these goals. I strongly believe that we will continue this positive trend in Havyard Group and therefore I used the opportunity to buy Havyard shares in connection with the IPO process, says Gjelseth.

Focus on business and organizational development
Leif Gjelseth has led the business area Fish Handling & Refrigeration since it became part of Havyard Group. In addition, Gjelseth has been responsible for the development and sale of MMC products and overall business development in the business area. This is something Gjelseth want to focus on even more and will therefore take on a position as Senior Vice President Sales & Business Development at Havyard Fish Handling & Refrigeration AS.
Roar Stenersen, has since October 2013 been the general manager of the two product areas in Havyard Fish Handling and Refrigeration and had day-to-day responsibility for operations. Hence, Stenersen was the natural choice to replace Gjelseth going to a new position. The Board has therefore effective immediately appointed Roar Stenersen as Executive Vice President for Havyard Fish Handling & Refrigeration AS. Stenersen also replaces Gjelseth in the corporate management at Havyard Group ASA.