Aker Solutions on Track to Reach Improvement Goals
(Thomson Reuters ONE) -
June 7, 2016 - Aker Solutions is making good progress in reaching a goal of
boosting cost-efficiency in all areas of the company by at least 30 percent as
part of a broader effort to strengthen its competitiveness amid current market
challenges.
A quarter of the targeted improvement will be achieved this year, helping to
achieve potential annualized cost-savings of at least NOK 9 billion by the end
of 2017, based on the 2015 cost base and work volumes. The improvements are
expected to speed up next year as longer-term processes take hold.
"We're simplifying how we work and standardizing our products and services to
drive through savings and become more competitive," Chief Executive Officer Luis
Araujo said in a presentation Tuesday to investors in Fornebu, outside Oslo.
"These efforts are supporting our margins and we are winning new work through
increased collaboration with customers and industry participants on key projects
and technology."
Aker Solutions over the past two years formed alliances with peers including
Baker Hughes, ABB, MAN Diesel & Turbo and Saipem. They span the entire subsea
value chain from the reservoir, to the seabed and up to the topside. These are
partnerships with leaders in their fields whose competence and technology
complement Aker Solutions' subsea capabilities.
The company on Monday announced a contract valued at more than NOK 1 billion to
deliver its longest-ever umbilicals system at the Zohr gas field offshore Egypt.
Today it announced a three-year contract extension from Total to provide
maintenance and operations services at the Elgin and Franklin fields in the UK
North Sea. This work is valued at more than NOK 400 million.
"We have a healthy order backlog and solid financial position underpinned by our
continuous improvement efforts and consistently strong execution on major
projects worldwide," said Araujo. "We are building on all of this with key
collaborations that boost our competitiveness, particularly in the subsea area."
ENDS
For further information, please contact:
Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel:
+47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani(at)akersolutions.com
Anne Cecilie Lund-Andersen, Media Relations Manager, Aker Solutions. Tel:
+47 22 94 74 52, Mob: +47 99 62 12 13, E-mail: anne.cecilie.lund-
andersen(at)akersolutions.com
Investors:
David Phillips, Head of Industry & Investor Relations, Aker Solutions. Tel:
+44 208 811 7111, Mob: +44 7788 338 887, E-mail:
david.phillips(at)akersolutions.com
Per Christian Olsen, Analyst, Investor Relations, Aker Solutions. Tel:
+47 67 51 36 58, Mob: +47 900 29 077, E-mail:
per.christian.olsen(at)akersolutions.com
Aker Solutions is a global provider of products, systems and services to the oil
and gas industry. Its engineering, design and technology bring discoveries into
production and maximize recovery. The company employs approximately 15,000
people in about 20 countries. Go to http://akersolutions.com for more
information on our business, people and values.
This press release may include forward-looking information or statements and is
subject to our disclaimer, see http://akersolutions.com
Aker Solutions - Investor Day 2016:
http://hugin.info/163509/R/2018411/749169.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#2018411]
Unternehmensinformation / Kurzprofil:
Datum: 07.06.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 475992
Anzahl Zeichen: 4230
contact information:
Town:
Fornebu
Kategorie:
Business News
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