Salvage company Ardent abandons previous goals for billion-dollar market

Salvage company Ardent has had high expectations for a billion-dollar market for decommissioning end-of-life oil platforms. But now the company has a new CEO, strategy and headquarters. Oliver Timofei, who has taken over leadership, talks about the background in an interview with ShippingWatch.

Salvage company Ardent is the result of a joint venture between Svitzer and Titan Salvage. Last year, a German investment fund bought the company together with members of Ardent's top management. | Photo: PR/Ardent

Salvage company Ardent has changed course completely after the firm for years had ambitious plans for an expected billion-dollar market for end-of-life oil platforms.

There have been major changes recently for the company, born from a merger between Svitzer and Titan Salvage, which was acquired by a German investment fund and Ardent's top management last year, when the former owners were bought out.

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