Feen Marine Scrubbers Inc. (“the Company”) today announces that as of 10 January 2019 an agreement has been reached between the Company and Mr Bjornar Feen (a founder of Feen Marine Scrubbers Inc) for the Company’s shareholders to acquire Mr Feen’s shareholding. The Company will trade under the new name “FMSI”.
Mr Feen ceased to serve as a director and executive of the Company from 27 December 2018 and from 10 January 2019 has no further involvement with the Company. FMSI thanks Mr Feen for his contribution and wishes him success for the future.
Mr Nic Busch and Mr Gary Brocklesby, the principals of Navig8, have become the majority shareholders of FMSI. Nic Busch (CEO of Navig8) takes the role of interim CEO. Together with a substantial, experienced management team and all necessary resources, Mr Busch will be responsible for driving forward the next stage of the company’s growth.
Terje Bjornemo, Global Sales Director, of FMSI states;
“The management team is excited to be embarking on this new venture and to fully embrace the opportunities ahead of us. We thank our shareholders for placing confidence in our potential.
This agreement will propel FMSI into an era of considerable growth. We are increasing capacity through the expansion of our Batam site, which is on schedule to become a 40,000 square metre state-of-the-art design and manufacturing facility. Operational from February 2019, our capacity will increase five-fold, enabling us to deliver scrubber systems from our expanded site as early as April 2019. New, streamlined procedures to maximise production are also being implemented. At a time when some manufacturers are unable to accept scrubber orders, our capacity will increase and delivery times reduce. This is a momentous turning point in our development and the management team looks forward to working with our skilled workforce in Batam and around the world.”
About the Company
FMSI was formed in 2017 and has taken orders in excess of 150 scrubber systems. The Company specialises in open loop and hybrid scrubber solutions. As of 14th January 2019, Feen Marine Scrubbers Inc. had delivered 45 systems, and fully commissioned 18 Ships in top quality shipyards including HHI / HSHI / HVM / NTS.
FMSI will continue to have R&D and sales representatives in Oslo, Singapore, Athens, China, Korea, Turkey, India and is supported by a global service network.