Exhaust gas treatment maker Pacific Green Marine has announced the consolidation of its Marine Sales Division citing difficult conditions experienced during the current pandemic.
Scott Poulter, Chairman and CEO of Pacific Green Technologies commented, “As a result of COVID-19 and the narrowing of the oil price spread we have been forced to rethink the sales strategy in our marine division.
Unfortunately we have concluded that our Norway office, which has not generated any revenue for our group, should close and that our Marine Sales division should continue its previously successful strategy, concentrating on trusted relationships in the sector. Our parent company has strong cash reserves and we continue to look forward with optimism as we believe that the effect of the Pandemic will generate significant change in the energy sector and increasingly require our sustainable technologies.”
Since entering the marine sector, the company has delivered 86 ENVI-Marine Systems to its customers, with another 56 systems contracted to be delivered in 2020 and 2021. Travel restrictions resulting from the Pandemic have impeded the company’s ability to enter and exit shipyards and it has postponed 32 ENVI-Marine System installations to 2021 to accommodate client and supplier needs but has received no ENVI-Marine System cancellations as a result of the Pandemic.
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