Interesting post from Yahoo on the business strategy of PGO's new shareholder:
We have a counter-cyclical attitude to our investments. This requires a certain amount of willingness to take a risk, but also allows the opportunity to make healthy gains. Historically, this approach has been remunerative..
However, being daring is in itself not worth very much unless it is based on sound expertise.
Umoe's expertise has primarily been in the offshore and maritime industries, linked to a macro-economic view of the world. In our experience, this insight provides us with opportunities. We try to keep a cool head and wait for the right time to invest. It is important for Umoe that we keep sight of our goal and think long term once a decision has been made.
Umoe's philosophy is to contribute more than just capital - because it is one thing to see the opportunities that exist, but quite another to do something about them. We have a long history of carrying out demanding reorganisations in Norwegian companies. In this way, Umoe has helped to increase profitability through active ownership.
Our expertise lies in the maritime sector and offshore-related operations. Our ownership share has to be large enough to give us a natural influence on the company's decisions, and we must aim to be the anchoring owner. We want to play an active role as owners, ie, we get close to the management of the company and want to have board representation for major investments.
We want to contribute with more than just capital. We have carried out demanding reorganisations and consolidations within a number of companies over the past 15 years. We want to help improve companies' profitability - through good operations, active business development and structural changes.
The next few years will be very exciting, and it is a privilege for our entire organisation to have such resources to work with so that we may realise our industrial dreams.
Jim |
