Norwegian ship technology group Havyard is set to change its name to Eqva to echo the company’s growth strategy and its aim to become a fully integrated service and maintenance supplier for the Norwegian land-based and maritime industry.
Eqva owns engineering, construction and service companies BKS, Havyard Leirvik and Fossberg Kraft.
The Fosnavåg-based firm said the name was formed by combining the letters EQ, the starting point of the words equal, equity and equality, and VA the starting point of the word’s variety and value – words that reflects the company’s strategic priorities. The VA also brings association to the Norwegian word for water (Vann).
“Over the last few years, our company has made significant steps forward. We have expanded our service portfolio and positioned ourselves in industries where we can make a difference by driving change towards a more sustainable future and creating strong shareholder value. We continue our exciting transformation towards being an active owner of fully integrated service companies in maritime, power intensive and renewable industries. This evolution, combined with our future ambitions, inspired the need to revisit our name and identity,” explained Erik Høyvik the group’s chief executive.
The new name will be proposed to shareholders in a resolution to an extraordinary general meeting on November 14, 2022. Board members with ownership representing about 80% of the shares, have supported the proposal and will vote in favour of the resolution.
