Fluid Control is bankrupt – 101 employees lose their jobs

Fluid ControlPhoto.Fluid Control.

Supplier company Fluid Control must become bankrupt after heavy losses as a result of the oil crisis. The company has 101 employees.

The employees been informed about the bankruptcy during an informational meeting happened Tuesday morning, according Sysla Offshore.

Fluid Control was delivering modules and services for fluid transfer, power and control solutions for the oil and gas industry and it’s Headquarter was in Bergen.

In bankruptcy petition submitted to Bergen District Court reveals that the company has a debt of about 60 million kroner. The company’s assets are estimated approximately as same amount.

– Most probably the company will not be able to fulfill its commitment on agreed deliveries.

Their Payment difficulties are not considered as temporary cases, mentioned by Bergen County Court.

The company had a turnover of 257 million kroner last year was lower than their turnover in 2014 which was 314 million kroner. Last year’s operating result was minus NOK 26.3 million.


Source: NTB scanpix / Norway Today