1997: Due to growth ambitions that exceeded the company's resources, the company experienced a financial crisis in the year's second quarter. The company had to be re-financed and re-structured, and most of the management and the Board of Directors were replaced. The turnaround: Øystein Moan joins as CEO, and a new strategy is put into action. The new board manages to raise MNOK100 in new share-capital, but must lay off 1/3 of staff.
