Monday, November 16, 2015
Press Release

Norautron Group AS acquires Hatteland Display AS
Norautron Group has entered into an agreement to acquire 100% of the leading maritime display and computer manufacturer Hatteland Display from Herkules Capital.

Hatteland Display's history dates back to 1989, and the company is now the leading designer and manufacturer of high-end rugged displays, panel computers, and computers for all segments of the professional marine industry. The company has established strong relationships with major systems integrators through a growth strategy based on technological leadership and innovation.

Norautron Group is a leading technology company with a global footprint. The group is present in several countries worldwide and operates production facilities in Norway, Sweden, Poland and China. During the last decade Norautron Group has had a strong growth, both organic and through acquisitions.

Including Hatteland Display, the Norautron Group will have an estimated annual turnover of app. NOK 1.8 billion and will be a significant player within several segments of the electronics industry, with positions in markets for complete products and components.

The management teams of Norautron Group and Hatteland Display will during the time ahead work together to establish a platform for continued growth and development.

Jørgen C. Broch, the owner of Norautron Group and chairman of the Board, underlines the industrial fit between the companies and that synergies have been an important driver for the takeover. "This acquisition will further strengthen Norautron Group's position as a global technology company", says Jørgen C. Broch.

Trond K. Johannessen, President & CEO of Hatteland Display says: "We are excited about becoming a part of the Norautron Group. There is a strong industrial logic in combining the strengths of the companies to further improve competitiveness and market positions."

Tore Rynning-Nielsen, Senior Partner at Herkules Capital says: "We are glad to sell Hatteland Display to a highly complementary industrial corporation such as Norautron Group as we are confident that both Hatteland Display and Norautron Group will benefit from this new setting."



--- About Hatteland Display AS ---
Based in Nedre Vats, Hatteland Display has two modern production facilities, including in-house optical bonding facilities. The company has approximately 150 employees with offices in Norway (Nedre Vats and Asker), Germany, France, USA as well as agents in Asia, Australia, Canada, Russia and USA. The company manufactures displays and computers for navigation, automation, positioning, monitoring and more. Hatteland Display is the leading global provider of solutions to system integrators worldwide, and focuses purely on the maritime industry. For 2015, the company expects to report revenues just below 400 million with EBITDA margin of roughly 15%.


--- About Norautron Group AS ---
Norautron Group AS is a technology company established in 1986, owned by J.C. Broch AS and is based in Horten, Norway. From a startup based upon contractual production of electronics, the group has also expanded into industrial computers, displays, networks and surveillance products for the professional market. In the last decade, Norautron Group has established or acquired companies in several countries in Europe and the far east. The group will together with Hatteland Display have approx. 900 employees around the world.

See www.norautron.com/norautron-group for more information.

--- Media Enquiries from Hatteland Display AS ---
Trond K. Johannessen
President & CEO
Contact: +47 9159 6688



--- Media Enquiries from Norautron Group AS ---
Rolf Leistad
Executive Vice President
Contact: +47 9115 5754



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Hatteland Display AS
Stokkastrandvegen 87B, N-5578 Nedre Vats, Norway
Tel: (+47) 4814 2200 - Fax: (+47) 5276 5444
www.hatteland-display.com - mail@hatteland-display.com
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