Norex Offshore A/S manufactures and markets steering and navigation equipment for the leisure- and fishing boats and for specialized ships, remotely operated underwater vehicles, industrial valves for vessels and offshore applications and supplies subsea electronic and mechanical products to the Norwegian offshore and ship's electronics markets. Steering and navigation equipment accounted for 37% of 1992 revenues; remotely controlled vehicles, 26%; industrial valves, 18%; subsea electronics, 16% and other, 3%.