Annual Report 2011 - Kongsberg Maritime - Kongsberg Gruppen

Norspace AS
On 21 September 2011, KONGSBERG signed an agreement to aquire
the shares in Norspace AS in Horten. The transaction was completed on
31 October 2011. At the date of the aquisition Norspace AS having 95
emplyees, is the world leader in delivery of high-tech components and
equipment for the international aerospace industry. The company is part
Preliminary purchase price allocation Norspace AS
Amounts in MNOK
30
LIST OF GROUP COMPANIES
Recognised values
at acquisition
Adjustments
of fair value
Carrying amount
prior to acquisition
Intangible assets excluding goodwill 11 11
Other Assets 118 12 106
Liabilities (73) (6) (67)
Net identifiable assets and liabilities 56 17 39
Goodwill upon aquisition 37
Total remuneration incl. cash payment and estimated additional remuneration 93
Estimated additional remuneration (3)
Cash acquired 90
Net closing cash flow
Goodwill arising in the preliminery purchase price allocation are mainly related to competence and capacity.
It has not been prepared pro forma figures for the period from 1 January 2011 until the time of acquisition 31 October 2011 as the amounts are
considered immaterial to the consolidated financial statements.
Norspace AS`s contribution to the Group from the acquisition 1 November 2011 until 31 December 2011 is not material to the consolidated financial
statements.
Specification of outgoing cash flow on acquisition in 2011
of Kongsberg Defence System and the acquisition of Norspace AS
strengths KONGSBERG`s position in deliveries to international
aerospace and industrial markets. The estimated aquisition cost is
MNOK 93.
Net outgoing cash flow on acquisition of Evotec AS 116
Net outgoing cash flow on acquisition of Norspace AS 90
Outgoing cash flow on other acquisitions of smaller size 20
Net outgoning cash flow on acquisition in 2011 226
The following companies are consolidated:
Company name
Stake as a Stake as a
percentage percentage
Country 31 Dec 31 Dec
of origin 2011 2010
Kongsberg Gruppen ASA Norway Parent Parent
Kongsberg Defence &
Aerospace AS Norway 100 100
Kongsberg Spacetec AS Norway 100 100
Kongsberg Satellite Services AS Norway 50 50
Konsberg Norspace AS Norway 100
Kongsberg Oil & Gas
Technologies AS Norway 100 100
Kongsberg Drilling Managment
Solutions AS Norway 100
Kongsberg Teknologipark AS Norway 100 100
Kongsberg Næringseiendom AS Norway 100 100
Kongsberg Næringspark-
utvikling AS Norway 100 100
Kongsberg Næringsbygg 2 AS Norway 100 100
Kongsberg Næringsbygg 3 AS Norway 100 100
Kongsberg Næringsbygg 5 AS Norway 100 100
Kongsberg Næringsbygg 6 AS Norway 100 100
Kongsberg Næringsbygg 7 AS Norway 100 100
Kongsberg Næringsbygg 8 AS Norway 100
Company name
Stake as a Stake as a
percentage percentage
Country 31 Dec 31 Dec
of origin 2011 2010
Kongsberg Næringsbygg 9 AS Norway 100
Kongsberg Seatex AS Norway 100 100
Nerion As Norway 100 100
Kongsberg Maritime AS Norway 100 100
Lodic As Norway 55 55
Vehicle Tracking and Information
Systems AS Norway 100 100
Kongsberg Norcontrol IT AS Norway 100 100
Kongsberg Maritime
Engineering AS Norway 100 100
Portside AS Norway 100
Kongsberg Evotec AS Norway 100
Kongsberg Maritime Srl. Italy 100 100
Simrad Srl Italy 100 100
Kongsberg Maritime Holland BV Netherlands 100 100
Kongsberg Maritime Poland
Sp.z o.o. Poland 100 51
Kongsberg Defence Sp.zo.o. Poland 100 100
Simrad Spain SL Spain 100 100
Kongsberg Maritime Sweden AB Sweden 100 100
2 INTRODUCTION
7 DIRECTORS’ REPORT AND
18 FINANCIAL STATEMENTS
64 CORPORATE GOVERNANCE
76 FINANCIAL CALENDAR AND ADDRESSES
KONGSBERG Annual Report 2011 53