Scana company signs agreement for business transfer from an electrical company

PSW Technology AS has signed an agreement for business transfer with Future Energy AS, involving the transfer of specific assets, rights, and obligations, including the company’s approximately 50 employees.

PSW Technology was approved as an electrical installation company on 18 October 2023, and through this agreement, PSW Technology gains additional important expertise in the field of electrical engineering through skilled workers, covering both high and low voltage.

The contract value of the agreement is below threshold defined by Scana. The agreement states that the business transfer will take place during Q4 2023.

“We are pleased to announce the signed agreement, which strengthens PSW Technology ability to deliver services both onshore and offshore to clients in the modification market within electrical- and automation”. Additionally, PSWs multidiscipline expertise will be strengthened by electrical and automation services. This contract including the addition of approximately 50 new employees, enhances our market position by broadening our service offerings,” says Richard Cornell, Managing Director of PSW Technology.

(1) A sizeable contract is defined to be between NOK 20 million and NOK 50 million.

(2) A substantial contract is between NOK 50 million and NOK 150 million.

(3) A large contract is over NOK 150 million.

For more information, please contact:
Pål Selvik, Chief Executive Officer, Scana ASA, +47 970 46 502

Richard Cornell, Managing Director, PSW Technology AS, +47 952 31 652

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