Since it's establishment in 1946, the company has been through a remarkable development. Two years stand out as particulary important in the history of the company. First in 1974, when Ulrik Qvale became partner and general manager, and then in 1989 when the company adopted it's present name.

The business idea has remained the same; a sales-and-agent office for foreign shipyards, and a sparepart/service company connected to the shipping and offshore industry.