NEWS FEEDER

HG Electric AS aquires 51 % of the shares in Polar El Aps
Hareid Group's Danish company HG Electric AS in Frederikshavn acquires 51% of the shares in Polar El ApS, Nuuk in Greenland.Polar El Aps was established in 2008 by Jens Kragh Larsen and Jacob Baadstorp. Today they offer services in electrical installations, mainly to the construction industry.The company's two directors have together more than 35 years of experience in the electrical industry and have extensive knowledge of Greenland`s specific characteristics. -Hareid Group and HG Electric AS have for a long time meant that the development in Greenland is very interesting and have considered the possibility for an establishment in the project market. -The location and the well developed infrastructure of Nuuk is a perfect start for this establishment. In particular we are thinking of building -industry, infrastructure, energy and mining industries. Furthermore, we believe that Nuuk will be a key in the development, that`s taking place in the oil and gas industry in Greenland and in the Arctic in the coming years. Much of our experience and expertise can be transferred and provide new opportunities for further development of technology, adapted to the demanding climate and the sensitive nature in Greenland. We have great respect for the Greenlandic society and have for a long time considered the new market. We have been working specific to find a local partner. We believe this is essential and important to create values and jobs in Greenland, says CEO Ronald Dyrhol Hareid Group. -We have followed the development in Greenland through our participation in Arctic Business Network in Aalborg for the past 1 ½ years. With this agreement we have reached a major highlight, says director Brian Enevoldsen in HG Electric AS. Brian Enevoldsen says: Polar El ApS is a company that have reached it`s maximum size with the current structure and management and are now seeking for further growth. The wide experience and knowledge inherent in the company, combined with our resources, give the partnership the best prospects of success in achieving this goal. To be able to join the development of this company in the future is an honour and we believe this is the best partner we could get in Greenland. -We want to develop our company through further growth. We are confident that Hareid Group and HG Electric AS can provide the expertise, networks and resources needed to succeed. On this basis, we have decided to sell 51% of our shares to HG Electric AS. We are looking forward to an exciting and innovative collaboration, says directors Jens Kragh Larsen and Jacob Baadstorp in Polar El ApS. For information contact: Hareid Group (Hareid Electric AS),CEO Ronald DyrholMobile +47 900 60 874 / E-mail: rd@hareidgroup.com HG Electric AS,Director Brian EnevoldsenMobile + 45 21 74 44 93 / E-mail: be@hg-electric.dk Polar El ApS,Director Jens Kragh Larsen Mobile +299 538738 / E-mail: jkl@polar-el.glPresident Jacob Baadstorp Mobile +299 552324 / E-mail: jb@polar-el.gl About: Hareid Group (Hareid Elektriske AS) consists of eleven companies with 340 employees, primarily in the field of electro. Hareid Group has extensive expertise in the segments maritime, building and industry, product and design, as well as trade. In addition, the group has activities in finance and real estate. The group had a turnover of. 414 million NOK in 2011.www.hareidgroup.com HG Electric AS is a 100% owned subsidiary of Hareid Group and is located in Frederikshavn in Denmark. The company was established in 2004 and has today 40 employees. The company is a registered installation company within the high and low voltage for both marine and building industries. The company has approvals in Denmark and Norway. In 2011 the company had a turnover of 55 million DKKwww.hg-electric.dk Polar El ApS was established in 2008 and is thus a relatively new company in Greenland. The two owners and directors of the company have 12 and 24 years of experience in the electrical industry in Greenland. The company has 10 employees and had a turnover of 20 million DKK in 2011.www.polar-el.gl…
11.09.12 12:30
ONS 28. - 31. August 2012
The number one meeting place for those who work in the energy business, hosted by the city of Stavanger. Hareid Group will display their products and services. ONS is one of the world's leading energy industry exhibitions. In 2012 more than 1300 exhibitors from nearly 30 countries are expected. Here, they will present their companies and products to over 49,000 visitors from nearly 100 countries. Visit us at stand number C-357. More information on: www.ons.no…
06.08.12 12:52

ABOUT HG ELECTRIC AS

HG Electric AS (previous Sencon AS) is currently the only fully-owned subsidiary in Hareid Group located outside of Norway. The company is located in Frederikshavn in Denmark and was established in 2004. The company is a registered installation company in high and low voltage for both land and marine industries. The company has approvals in Denmark and Norway.

Today HG Electric AS is working in several contracts in Norway for the Norwegian Shipbuilding Industry in addition to Infrastructure contracts with tunnel installation.

They are also offering their services to the Danish market, both shore- and offshore.

HG electric has 40 own employees and offers major contracts within its market areas.
Through close cooperation with their sister company, HG Technology in Gdynia, Poland, the company has a capacity of approx. 160 man-years.
HG Electric AS is also represented in Nuuk, Greenland through 51 % ownership in Polar El AS.