PSW completes acquisition of Trans Construction AS

Reference is made to the stock exchange announcement dated December 23, 2021, from Scana ASA (OSE: SCANA) (“Scana”) regarding PSW Power & Automation’s signing of an agreement to acquire 100% of the shares in Trans Construction AS, based on an equity value of NOK 25 million.

The company hereby announces that the transaction has been completed today as planned. Styrk Bekkenes, Group CEO of Scana, expressed great satisfaction with the completion of the acquisition of Trans Construction.

Trans Construction AS is a leading engineering company with a long-standing tradition, specializing in the design and production of E-House modules for the maritime, offshore, and land-based industries.

“By incorporating Trans Construction into PSW Power & Automation, we see potential for synergies and opportunities to enter new markets. The acquisition also lays the foundation for increased market share in modular units for battery systems, hydrogen power systems, shore power systems, and E-House modules for offshore wind,” says Eirik Sørensen, GM at PSW Power & Automation.

For further information or contact:

Styrk Bekkenes CEO Scana ASA E: styrk.bekkenes@scana T: +47 404 03 520

Eirik Sørensen, GM PSW Power & Automation AS E: esor@psw.no T: +47 936 78 233