Aker Solutions acquires subsea companies
(Thomson Reuters ONE) -
17 July 2012 - Aker Solutions has acquired the Norwegian companies Subsea House
and SSH Engineering and plans to further expand and recruit 50-100 people in
Stokke, located in the Vestfold county of Norway. The transaction value is
undisclosed.
Subsea House and SSH Engineering, currently owned by Subsea Holding, employs 40
people in total. The companies were established in 2007 and have a solid
background within development, assembly, testing and refurbishment of subsea
tools and products. The companies developed a state-of-the-art subsea facility
in Stokke, one hour southwest of Oslo, designed for testing of subsea products,
systems and tools in 2007, which is part of this acquisition.
The facility is equipped with test bunkers and large test pits with overhead
crane capacity suitable to perform most required testing and refurbishment
scenarios for subsea systems, tools and accessories. Aker Solutions' ambition is
to double the current revenue of Subsea House and SSH Engineering and recruit
50-100 people over the next two years.
Knut Røsjorde, Aker Solutions' head of subsea in Norway and Africa, says: "This
acquisition is a response to the growing market demand both in Norway and
internationally. By acquiring Subsea House and SSH Engineering, Aker Solutions
will gain immediate access to skilled resources in a region where Aker Solutions
has limited presence within the subsea industry segment. In addition, we will
get access to additional assembly and test capacity."
He adds: "Aker Solutions' ability to serve its current and future clients will
be improved and this development will facilitate market share growth within
subsea production technologies, including subsea trees, work-over systems and
related tooling."
CEO of Subsea House and SSH Engineering Tor Ole Myhre, says: "Aker Solutions'
ability as a provider of complete subsea production systems is backed by an
extensive portfolio of products and technologies. They have the ability to grow
our business and offer great opportunities for current and future employees in
Vestfold. We look forward to being part of the Aker Solutions family."
As previously announced, Aker Solutions is preparing for major growth by
investing NOK 500 million (USD 87 million) in its subsea business which comes in
addition to the acquisition of Subsea House. This investment is set to double
the capacity of its manufacturing plants in Tranby, Norway, and Port Klang,
Malaysia. New service bases will also be established in Malaysia and Thailand.
The subsea segment of the oil and gas industry is growing rapidly and is
expected to develop exponentially over the next few years. Of Aker Solutions'
25 000 employees almost 7 000 are employed within the subsea business.
The transaction of Subsea House and SSH Engineering is expected to be completed
in the third quarter of 2012. The acquisition is subject to approval from the
Norwegian Competition Authority.
ENDS
For further information, please contact:
Media:
Endre Johansen, Vice President Communications, Aker Solutions. Tel:
+47 22 94 58 91, Mob: + 47 416 10 605, E-mail: endre.johansen(at)akersolutions.com
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39,
Mob: +47 91 13 71 94, E-mail: lasse.torkildsen(at)akersolutions.com
Suppliers:
For further information about sourcing and potential subcontracts for this
project, please visit www.akersolutions.com/suppliers
Career opportunities:
Visit http://www.akersolutions.com/careers
Aker Solutions provides oilfield products, systems and services for customers in
the oil and gas industry world-wide. The company's knowledge and technologies
span from reservoir to production and through the life of a field.
Aker Solutions brings together engineering and technologies for oil and gas
drilling, field development and production. The company employs approximately
25 000 people in more than 30 countries. They apply the knowledge and create and
use technologies that deliver their customers' solutions.
Aker Solutions ASA is the parent company in the group, which consists of a
number of separate legal entities. Aker Solutions is used as the common brand
and trademark for most of these entities. In 2011 Aker Solutions had aggregated
annual revenues of approximately NOK 36.5 billion. The company is listed on the
Oslo Stock Exchange.
This press release may include forward-looking information or statements and is
subject to our disclaimer, see www.akersolutions.com.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aker Solutions ASA via Thomson Reuters ONE
[HUG#1627170]
Unternehmensinformation / Kurzprofil:
Datum: 17.07.2012 - 12:01 Uhr
Sprache: Deutsch
News-ID 165989
Anzahl Zeichen: 5591
contact information:
Town:
Lysaker
Kategorie:
Business News
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"Aker Solutions acquires subsea companies"
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