Aker Kværner
Aker Kværner is a multinational provider of services related to design, construction, maintenance, modification and operation of both large and small industrial facilities. Most of its activities are carried out through its subsidiaries and affiliates.
The Aker Kværner group provides advanced technology products, either on their own or as part of integrated solutions.
Aker ASA, one of the largest industrial groups in
Norway, owns 50.01 percent of the company. Other companies in the Aker system are
Aker Yards,
Aker Seafoods,
Aker Material Handling and
Aker American Shipping.
Aker Kværner's businesses span a number of industries, including
oil and
gas, refining and petrochemicals, pharmaceuticals and biotech, power generation, pulp and paper and mining, and metals. It also owns a 20% stake in
Sea Launch.
The group has approximately 21,000 own employees in more than 30 countries, in addition to more than 5,500 agency staff and contract personnel. In
2004 operating revenues were approx NOK 35.6 billion.
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.
The former Kværner group went through an extensive restructuring process early in
2004, which resulted 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.
The parent company,
Aker Kværner ASA, is a publicly traded company listed on the
Oslo Stock Exchange in
Norway.
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Corporate website
