Norwegian defence company Kongsberg Gruppen said Thursday it wanted to spin off its maritime business and list it as a separate company on the Oslo stock exchange.

The company said it hoped that the two companies would be better able to develop as separate entities.

Kongsberg Maritime, which employs about 8,000 people, supplies navigation, propulsion and automation systems for civilian and military ships.

"We have concluded that continued growth and development will be even better ensured if Kongsberg Maritime leads its own life as a separate, publicly listed company," Eivind Reiten, chair of the board of Kongsberg Gruppen, told a press conference.

Kongsberg Gruppen would retain the defence, aerospace, and ocean exploration business areas.

In practical terms, the split would mean that

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