Damen Shipyards Group has acquired a 55% stake in Folla Maritime Service AS, enhancing its capabilities in the Norwegian aquaculture industry.

Information on the Target

Folla Maritime Service AS is a prominent provider of vessels and services to the aquaculture industry, based in Norway. Established over 30 years ago, the company has built a strong reputation for delivering innovative maritime solutions tailored to the needs of its clients. In 2022, Folla Maritime relocated to state-of-the-art facilities in Flatanger, which has enabled it to triple its revenue since the move, amounting to 121 million NOK in 2024. The company employs approximately 40 skilled professionals dedicated to building, servicing, and repairing various types of vessels.

Industry Overview in Norway

The maritime industry in Norway is a robust sector characterized by a commitment to innovation and sustainability, largely driven by the country's rich maritime heritage and the expansion of aquaculture. The government actively supports this sector, recognizing its contribution to the economy. With significant investment in technology and environmentally-friendly practices, Norwegian maritime companies continue to lead in developing hybrid and electric vessels, responding to global demands for sustainable solutions.

Aquaculture, in particular, plays a vital role in the Norwegian economy, with the country being one of the largest exporters of seafood worldwide. The sector has witnessed substantial growth, resulting in increased d