Kongsberg strengthens Arctic propulsion portfolio

Kongsberg Maritime has agreed to acquire Finnish propulsion specialist Steerprop, strengthening its capabilities in azimuth propulsion for high ice-class and Arctic vessels.

Steerprop’s installed base exceeds 400 vessels worldwide, including icebreakers, polar research vessels and offshore support vessels, while most of its substantial order backlog is linked to Arctic and ice-class projects.

“For Kongsberg Maritime, the acquisition represents a strategic step in strengthening our position in the growing Arctic and ice-class vessel segment,” said Lisa Edvardsen Haugan, chief executive of Kongsberg Maritime.

“The combination brings together Steerprop’s specialised Arctic propulsion expertise with Kongsberg Maritime’s global organisation, lifecycle services network, systems integration capabilities and scale.”

The acquisition will give Kongsberg Maritime access to Steerprop’s Arctic propulsion portfolio at a time when demand is being supported by fleet renewal programmes, investment in polar research and increased activity in Arctic regions.

Ville Rimpilä, senior vice president – Thruster Systems at Kongsberg Maritime, said Steerprop had developed strong technology and customer relationships alongside its leading Arctic propulsion position.

The combination is expected to broaden the offering available to customers, while providing stronger lifecycle support and enhanced integration across propulsion, energy, automation and other onboard systems.

Kongsberg Maritime said both companies will continue operating independently until completion of the transaction. Existing projects, deliveries and contractual commitments will remain unchanged, with customer continuity identified as the priority during the process.

Following completion, Kongsberg Maritime intends to integrate Steerprop through a phased process. The integration will focus on protecting customer relationships, maintaining delivery performance and retaining critical Arctic propulsion expertise while gradually introducing common systems and operating models.

The transaction remains subject to customary regulatory approvals and other closing conditions. Financial terms of the agreement were not disclosed.