Since Technor was acquired in 2006 by HitecVision and delisted, extensive restructuring and repositioning has been undertaken. The Flowtech division of Technor Group, encompassing all activities related to production and sales of industrial valves, has now been established as a separate company named Valco Group. The new company continues to be owned by HitecVision. The mission of Valco Group is to provide reliable products, concepts, system designs and maintenance based on HitecVision’s product portfolio within valves, actuators and control systems. Valco Group, with its head office in Stavanger (Norway), has 5 operational units: The factory Westad Industri (outside Olso, Norway), the two French factories Malbranque (near Lille) and SNRI (north of Bordeaux). The sales and distribution company Technor Valves & Automation (now renamed Valco Valves & Automation) (Bergen, Norway) and Technor Valve Services (to be renamed Valco Valves Services) (Ruffec, France). In Bergen the company also has a unit for fire & safety solutions. The management of Valco Group together possess significant experience, both of the Valco entities and also the industry more widely. The undersigned, Oddjorn Kopperstad, has been appointed President & CEO. Mr Kjell Ove Hatlem has been appointed as Valco’s Chief Finanical Officer. Mr Alain Lebre is heading the French operations and Mr Jorn-Inge Throndsen is heading the operations in Norway.