Operating profit of 15.3 million

- We have the right focus and prioritize what we are best at. This gives good results, says Frode Olsen, CEO of Tratec Halvorsen AS, about the turnaround.

75 employees lost their jobs when the cornerstone company in Kvinesdal had to close its doors in March 2018. The bankruptcy was mainly due to liquidity problems, as a result of a large customer not paying for them.

Turnover for 89 million

But the bankruptcy estate was quickly bought up and soon the operation was started again in the workshop at Øyesletta. The new company was named Tratec Halvorsen AS, and is owned by Tratec AS and Tratec Industrier with 80 percent and Frode Olsen with 20 percent.

Last year, Tratec Halvorsen AS had sales of NOK 89 million. This is up 25.8 million from the previous year. The company has 46 employees and a close collaboration with the five sister companies in the Tratec group - which has a total of 350 employees and a total annual turnover of around NOK 650 million.

- Long-term visibility and security

- We are part of a solid, local group that is concerned about long-term safety and security, says Olsen.

Tratec Halvorsen manufactures all types of boilers, pressure vessels and systems for water heat recovery and water treatment. The technology is used offshore and onshore. Among the most important customers are Equinor, Aker BP and ConocoPhillips.