Fitjar Mekaniske Verksted

What Fitjar Mekaniske Verksted does

Fitjar Mekaniske Verksted (FMV) is a privately held Norwegian shipbuilding company founded in 1957 and headquartered in Fitjar, south of Bergen, with ownership held through Laco AS of Austevoll. The company designs and builds vessels from approximately 26-meter work boats up to 87-meter cargo vessels, with a sharpened focus on three end-markets: commercial aquaculture (well boats, process boats, service vessels, stun-and-bleed platforms), commercial fishing (pelagic trawlers and purse seiners), and government maritime (Norwegian Coastal Administration/Kystverket environmental patrol vessels), plus opportunistic work in offshore energy (notably the world's first AHTS hybridization for Maersk Supply Service). Core technology consists of the proprietary HFMV design series co-developed with Heimli Ship Design and the Aurora Series co-developed with Sirius Design & Integration, supported by a complete in-house construction capability at the Fitjar yard (three piers, 200 berth meters, Anton 900-ton and Karlsvogna 300-ton lifting vehicles).

FMV's business model is custom B2B shipbuilding sold through direct, long-cycle contract negotiations with operators (no intermediaries or resellers). Revenue is generated across four streams: (i) new vessel construction contracts in the hundreds-of-millions-NOK range delivered over multi-year timelines, (ii) vessel conversion and refit including hybrid/battery propulsion upgrades, (iii) recurring service and maintenance through FMV Service and the FMV Travel Team, and (iv) parts and equipment sales via its NOGVA propulsion dealership and TESS hose workshop. Primary customer segments are Norwegian aquaculture operators (Hordalaks AS, Napier AS, Remøy Management/Volt Service, FSV Group, Holmøy Akvaservice), commercial fishing companies (Cetus AS), the Norwegian Coastal Administration, and offshore majors (Maersk Supply Service). The company sells primarily through industry trade shows (Nor-Shipping, Nor-Fishing, Aqua-Nor, DanFish), the Norske Skipsverft industry association, and direct long-term customer relationships that generate repeat orders. Approximately 120-140 full-time employees support annual turnover of about 500 million NOK.

Name

Fitjar Mekaniske Verksted

Legal name

Fitjar Mekaniske Verksted AS

Website

https://fmvas.no

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

101–250 employees

Short description

Fitjar Mekaniske Verksted (FMV) is a privately held Norwegian shipbuilder, founded 1957, that designs and constructs custom aquaculture vessels, fishing boats, and government maritime ships up to 87 meters at its Fitjar yard for Norwegian and international operators.

Ownership category

akta.pro rank

Product category

Commercial Shipbuilding and Maritime Vessel Construction

NAICS

Ship Building and Repairing (336611)

akta.pro primary industry

Pilot Boats & Crew Transfer/Service Craft (Pilotage, CTV-style workboats) (IMAJADAG)

akta.pro secondary industries

Offshore Vessel Life Extension, Major Conversion & Rebuild (EPC/Integration) (IMAJACAJ), Retrofits & Modernization (Scrubbers, Ballast Water, Alternative Fuels, Energy-Saving Devices) (IMAJAFAH)

Keywords

• Shipbuilding services
• Vessel construction
• Aquaculture vessels
• Fishing vessels
• Maritime engineering

Headquarters

HQ city

Fitjar

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. New Vessel Construction: Custom shipbuilding for aquaculture, fisheries, and maritime operators. Builds vessels from 26m to 87m including work boats, process boats, fishing vessels, coast guard vessels, and cargo vessels. Construction contracts typically in the hundreds of millions NOK range.
2. Vessel Conversion and Refit: Conversion and modernization of existing vessels including hybrid propulsion upgrades, fish processing system installations, and general refits.
3. Service and Maintenance: Ongoing service contracts, maintenance, inspections, and repair services for vessels. Includes FMV Travel Team for off-site work and mobile services.
4. Parts and Equipment Sales: As NOGVA dealer, sells spare parts for propulsion systems. Also offers equipment rental including multiwheelers and lastbank (load bank) for testing.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Fitjar Mekaniske Verksted (FMV) is a Norwegian shipbuilding company that designs and builds custom commercial vessels from approximately 26m to 87m in length, including aquaculture vessels, fishing boats, coast guard vessels, and offshore support ships. The company operates a fully integrated shipyard at Fitjar capable of complete hull construction, outfitting, and systems integration, supported by proprietary HFMV and Aurora vessel design series. In addition to new construction, FMV offers vessel conversion, retrofit, hybrid propulsion upgrades, ongoing maintenance services, and aquaculture-focused advisory through its FMV GoodFish competence group.

Product overview

Fitjar Mekaniske Verksted (FMV) is a Norwegian shipbuilding company offering a comprehensive portfolio of shipbuilding and maritime services. The core offering includes new vessel construction (FMV Nybygg), vessel conversions and retrofits (FMV Ombygging), proprietary HFMV design and engineering, ship service and maintenance (FMV Service), port facilities (FMV Base), and aquaculture-focused advisory services (FMV GoodFish™). FMV specializes in building vessels completely at their Fitjar yard, with a focus on the fishing and aquaculture industries, offering work boats, process boats, live fish carriers, fishing vessels, and Coast Guard vessels under the HFMV Design Series. The Aurora Series, developed with Sirius Design & Integration, targets advanced aquaculture processing operations.

Differentiator

Problem solved

Functional benefit

Products and services

• FMV Nybygg (New Vessel Construction) Custom newbuild construction of commercial vessels ranging from 26m work boats to 87m cargo vessels, performed entirely at the Fitjar shipyard including hull, outfitting, and systems integration. Serves aquaculture operators, commercial fishing companies, and government maritime authorities.
• FMV Ombygging (Vessel Conversion and Refit)

Quantifiable outcome

• FMV40 OV Ryvingen won The Motorship Award 2018 for environmental focus
• +3 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Sirius Design & IntegrationcoreStrategic or Co-development Partner · 24 August 2022Independent ship designer and system integrator with experience in advanced vessels. FMV and Sirius launched the Aurora Series - The Future of Stun & Bleed Operations, targeting aquaculture processing vessels.
• Heimli Ship DesigncoreStrategic or Co-development PartnerShip design company established 2009 by Asbjørn Vik. Co-developed HFMV design series with FMV, utilizing modern CAD software for design and engineering.
• Napier AScoreStrategic or Co-development PartnerShipping company based in Langevåg, Bømlo. Co-developed HFMV-P Napier process boat series with FMV and Heimli. Owns 50% through AMAR Group AS and Steinsvik AS.
• Norske SkipsverftminorOthersJoint sales and marketing organization for Norwegian shipyards. FMV is a proud member, leveraging collective representation and industry advocacy.
• Optimar AScoreTechnology or IntegrationSupplier of processing equipment including bløggerobot (fish processing robot) with species recognition capability. Key technology partner for process boat projects.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Aas Mek. Verksted: Norwegian shipyard of comparable size based in the Ålesund/Sunnmøre region, building fishing vessels, well boats, and aquaculture service vessels. Directly comparable in customer base (Norwegian salmon industry) and vessel type, with similar newbuild and conversion capabilities.
• Larsnes Mek. Verksted: Norwegian shipyard in Sula building fishing vessels, well boats, and offshore support vessels for Norwegian and international owners. Directly comparable in vessel size range (mid-sized workboats and fishing vessels) and customer overlap with Norwegian aquaculture and fishing operators.
• Havyard Group: Norwegian ship design and construction group with fishing, aquaculture, and offshore vessel offerings. Comparable in target customer base (Norwegian salmon farmers and fishing operators) and vessel categories, though larger and more diversified across design, construction, and systems.
• Solund Verft: Norwegian shipyard on the west coast building smaller fishing vessels, service boats, and specialized workboats. Comparable in vessel size and Norwegian fisheries/aquaculture customer focus, though typically operating at smaller tonnage than FMV.
• Kleven Maritime: Historic Norwegian shipyard (now restructured) historically building fishing vessels, offshore support vessels, and specialized ships. Directly comparable in Norwegian newbuild heritage and fishing/offshore customer base, with overlap in vessel classes though at different scale points.

Broad incumbents

• Vard: Major Norwegian shipbuilder (Fincantieri subsidiary) building offshore support vessels, fishing vessels, and specialized ships at significantly larger scale. Overlaps with FMV in fishing/aquaculture vessel segments and in Norwegian shipbuilding heritage, but operates at much broader scope and tonnage range.
• Ulstein Verft: Established Norwegian shipyard with strong offshore and specialized vessel portfolio. Comparable in Norwegian shipbuilding identity and offshore customer base, but with broader scope across offshore, cruise, and specialized vessels at larger scale than FMV.
• Wärtsilä: Finnish/global maritime technology company supplying engines, hybrid propulsion systems, and lifecycle services to shipyards and vessel operators. Comparable as a propulsion and hybrid systems provider and partner to FMV's customers, though operating as a tier-1 supplier rather than a direct shipyard competitor.

Regional players

• Cemre Shipyard: Turkish shipyard building offshore support vessels, fishing vessels, and specialized ships for European and global customers. Comparable in vessel type (OSV, fishing, specialized workboats) but operating from a different geography with a cost-structure advantage that competes for the same end customers.

Others

• Corvus Energy: Norwegian-headquartered supplier of marine battery and hybrid energy storage systems used in offshore, fishing, and aquaculture vessel electrification. Comparable as an enabling technology partner in the same hybrid/battery vessel ecosystem that FMV serves, including several of FMV's hybrid conversions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fitjar Mekaniske Verksted