News ·
An Eventful Year for TCO
During the spring and summer of 2015, TCO strengthened its organization. Among other things, the company recruited Halle Aslaksen from ALTUS Intervention. Halle took office as CEO on May 22 and immediately set to work addressing the challenges and opportunities facing the company and the industry as a whole. Atlantis Vest
During the summer of 2015, Atlantis Vest made an offer to the company’s minority shareholders, equivalent to NOK 175 per share. Several of the shareholders chose to accept the offer, and Atlantis Vest now owns a total of approximately 80% of the company and, together with Kalfaret AS, controls just over 90%.
In 2012, TCO filed a lawsuit to compel Vosstech AS, Bjørgum Mekaniske AS, and Stig Ove Bjørgum to cease marketing and selling the glass plug products “VT C Plug” and “VT MC Plug.” Vosstech had previously been a partner and subcontractor of TCO with full access to TCO’s glass plug technology. In September 2015, after three years in the legal system, TCO prevailed in the Court of Appeals. Due to infringement of TCO’s patent rights, Vosstech will be prohibited from manufacturing, marketing, selling, or delivering its VT-C and VT-MC barrier plugs for four years.