Established in 1986, Norlat operates primarily on trade routes from Northern Europe to North Africa and North America. The company, known for its asset-light model utilizing chartered vessels, operates out of offices in Sarpsborg, Bergen (Norway), and Stockholm (Sweden), employing eight staff members.
Jan Rindbo, CEO of Norden, highlighted the strategic benefits of the acquisition, emphasizing Norlat's expertise in parceling business and its potential to enhance Norden's access to Northern European forestry trade and new customer bases. The acquisition of Norlat follows Norden's previous acquisition of Thorco Projects, further strengthening its projects and parcelling capabilities.
Financial details of the acquisition were not disclosed by Norden, who reassured that the transaction would not impact its guidance for the current fiscal year.