Aker Kværner
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| Allmennaksjeselskap | |
| Traded as | : |
| Industry | Oilfield services Subsea (technology) Engineering |
| Predecessor | Aker Mechanical Workshop (1841) Kvaerner Brug (1853) Trafalgar House (1996) Aker Kvaerner (2004-2008) |
| Founded | 2008 (as Aker Solutions) 2004 (as Aker Kvaerner) 1853 (as Kvaerner Brug) 1841 (as Aker Mechanical Workshop) |
| Headquarters | Fornebu, Norway |
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Key people
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Iain (Schofield) Wardrope, Øyvind Eriksen (Executive chairman), Leif Borge (President and CFO) |
| Revenue | NOK 44.9 billion (2012) |
| Owner |
Aker Holding (40.1%) (as of 2012) |
|
Number of employees
|
28,000 |
| Website | www.akersolutions.com |
Aker Solutions ASA, a Norwegian oil services company based in Oslo, provides oilfield products, systems and services worldwide for customers in the oil and gas industry. The company, founded in 1841, was known as Aker Kværner until 2008.
Aker Kværner (OSE: AKVER) was founded in 2004 from the major restructuring of a complex "Aker Kværner" business unit, formed originally in 2002 by the merger of Aker Maritime and Kværner Oil & Gas. On April 3, 2008, Aker Kværner was renamed Aker Solutions, partly due to the difficulty that most non-Scandinavians found in pronouncing "Kværner".
The company was majority controlled by Aker ASA until 2007. Then, via a major ownership restructuring on June 22, 2007, Aker ASA completely gave up its holding in Aker Solutions, and transferred a 40% stake to Aker Holding, which in turn was owned by Aker ASA (60%), the Norwegian Ministry of Trade and Industry (30%), SAAB (7.5%) and Investor AB (2.5%).
As of 2012 the company employs approximately 28,500 people in more than 30 countries with annual revenues of approximately NOK 44.9 billion.
Aker Solutions is a result of mergers between several Norwegian companies during the 20th century.
The timeline below summarizes the main events leading to the foundation of Aker Kvaerner—from its origins as Aker Mechanical Workshop (1841)—until the merger of Aker Maritime with Kværner Oil & Gas to form Aker Kvaerner (2002).
Aker Kværner was the result of a merger of Aker Maritime and Kværner Oil & Gas in 2002, and a major restructuring of the Aker Kværner business unit in 2004.
Earlier in 2003, the group structure of Aker Kværner was split into six business areas; Field Development Europe, MMO Europe, Subsea & Oilfield Products, Oil, Gas & Process International, E&C Europe and E&C Americas. A need arose in 2004 to simplify a rather complex group structure which led to the formation of two focused industrial groups: Aker Kvaerner, specialists within Oil, Gas, Energy and Process; and Aker Yards, specialist shipbuilders. In addition, Aker Kværner became a minor shareholder in the Finnish engineering company Aker Arctic in 2004. The new Aker Kvaerner started trading on Oslo Stock Exchange under ticker symbol 'AKVER' on 2 April 2004.
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Wikipedia