Aker Kværner

From Wikipedia, the free encyclopedia

Aker Kværner ASA

Type	Public
Founded	2004
Headquarters	Oslo, Norway
Key people	Martinus Brandal (CEO)
Industry	Engineering and construction
Revenue	NOK 41.5 billion (2005)
Operating income	NOK million (2005)
Net income	NOK million (2005)
Employees	23,000 (2006)
Website	www.akerkvaerner.com

Aker Kværner (OSE: AKVER) is a Norwegian multinational provider of services related to engineering, construction, maintenance, modification and operation of both large and small industrial facilities. The company, with roots back to 1841, has its headquarters in Oslo and is listed on Oslo Stock Exchange. Aker ASA owns 50,01% of the company.

1 Operations
2 History

[edit] Operations

[edit] Overview

The Aker Kværner group provides advanced technology products, on their own or as part of integrated solutions. Aker Kværner's businesses span a number of industries, including petroleum, refining and petrochemicals, pharmaceuticals and biotechnology, power generation, pulp and paper, mining and metals. It also owns a 20% stake in Sea Launch. The group has approximately 23,000 employees in more than 30 countries, in addition to more than 5,500 agency staff and contract personnel.

The financial reporting structure of the group is based on five main segments: Field Development, Maintenance, Modifications & Operations (MMO), Subsea and Products & Technologies, Process and Pulping & Power. In 2004 Oil & Gas represented 65 per cent of group operating revenues and Engineering & Construction 35 per cent.

[edit] Field Development Europe

Field Development consists of construction and managing all aspects of deployment of oil and gas fields. The division consists of the divisions Aker Kværner Contracting, Aker Kværner Engineering and Technology in addition to the yards Aker Kværner Egersund, Aker Kværner Stord and Aker Kværner Verdal. The division also owns 12,5% of Aker Arctic ice laboratory.

[edit] Maintenance, Modifications and Operations Europe

Maintenance, Modifications and Operations operates on the Norwegian and British continental shelf providing services related to maintenance, modification, inspection, operation and operation support on oil platforms and other offshore installations.

[edit] Subsea

The subsea division delivers all kinds of subsea installations providing the full value chain from concept and engineering to manufacturing and operation and maintenance.

[edit] Products and Technologies

Products and Technologies provides a larg array of different products and services to the petroleum industry including such things as oil well services, equipment supply, oil prosessing equipment and LNG marine loading arm manufacturing, including the brand names Pusnes and Woodfield.

[edit] Oil, Gas, Process and Energy

Oil, Gas, Process and Energy provides development and construction of equipment for Oil & Gas Onshore and Offshore Developments, Chemicals & Polymers, Pharmaceuticals, Government Services and Mining & Metals industries.

[edit] History

Aker Kværner is the result of a merger and restucturising of Aker Maritime and Kværner in 2004, resulting in the listing of Aker Kværner on April 2, 2004

In February 2006, finnish-based Metso announced their acquisition of Kværner Pulping and Kværner Power. The merger is expected to be complete in late 2006, after approval of regulatory authorities.

Aker Group

Companies: Aker ASA • Aker American Shipping • Aker Capital • Aker Drilling • Aker Floating Production • Aker Kværner • Aker Material Handling • Aker Seafoods • Aker Yards
Yards: Aker Aukra • Aker Brattvaag • Aker Brevik • Aker Finnyards • Aker Kværner Egersund • Aker Kværner Stord • Aker Kværner Verdal • Aker Langsten • Aker Ostsee • Aker Philadelphia Shipyard • Aker Promar • Aker Søviknes • Aker Tulcea • Chantiers de l'Atlantique
Defunct companies: Aker Maritime • Kværner • Resource Group International
People: Kjell Inge Røkke
See also: Category:Aker Group