Scana — M&A Activity 2024

Aug 21, 2024

Scana ASA – Initiating strategic review for PSW Power & Automation AS.

Scana ASA – Initiating strategic review for PSW Power & Automation AS.

Bergen, 21 August 2024: Scana ASA (“Scana”) has decided to initiate a process to explore strategic alternatives for PSW Power & Automation. The outcome of the process could result in a complete or partial sale of the company.

PSW Power & Automation AS is a market leader in the Nordics within integration of electrical power systems, electrical infrastructure, energy storage systems and control systems. The company is currently delivering strong and profitable growth within its market segments.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

To assist Scana in this process BTIG has been engaged as financial adviser.

For more information, please contact:

Pål Selvik, CEO, Scana ASA, +47 970 46 502

Scana in brief

Scana is an active industrial owner of technology and services to both the energy and offshore industries. With an industrial history dating back to the early 1900s, Scana has evolved to become a leader in technology and innovation. This journey has provided a unique position to shape solutions for tomorrow, driven by extensive industrial experience combined with quality and value creation. Scana is headquartered in Bergen and has above 600 employees. www.scana.no