Mylovanov: Ukraine cooperates with investors from America to Asia but not with enemies
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Procurement: China Breaks The Rules
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Procurement: China Breaks The Rules
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MURPHY S LAW: Norway Says No
May 13, 2021: In early 2021 Norway blocked British firm Rolls-Royce from selling Bergen Engines, a Norwegian firm Rolls Royce bought in the 1990s. Rolls-Royce kept Bergen Engines in Norway, where it was a major producer of maritime engines. A Norwegian court backed the ban of the sale, that would provide Rolls-Royce with $178 million of the $2.7 billion it was seeking to obtain by selling off assets to help it survive the covid19 recession that had reduced its sales and threatened the entire firm. The Bergen Engine was to be sold to TMH Group, a Russian controlled holding company based in Switzerland. Why did the Russians want this Norwegian firm? Bergin Engine had sales of $333 million in 2019 and is a major supplier of naval engines to Norway and other NATO nations. While Norway has a law that blocks such “national security” sales, that law cannot block the sale indefinitely and the best solution is to a