Aker Solutions completes the merger with Kvaerner
It is an industry milestone when Aker Solutions now completes the merger with Kvaerner, the company said in its release.
The merged company becomes one of the world’s leading suppliers of solutions to reduce climate gas emissions from oil and gas installations, and for delivery of complete renewable energy production facilities.
Over the past 50 years, Aker Solutions and Kvaerner delivered many of the major breakthroughs in the global oil and gas industry. This track record includes concrete technology for offshore platforms to operate safely even in harsh weather conditions, or floating platforms and subsea systems for operations in ultra-deep waters. Internationally, the company is recognized for its technical expertise and capabilities to deliver complete oil and gas projects, including engineering, project management, fabrication and installation.
In recent years, Aker Solutions and Kvaerner has also executed work for customers within carbon capture, offshore wind power, hydrogen production and other renewable industries. The company was the key contractor for delivering the carbon capture technology test center at Mongstad, Norway. Currently, it is delivering to Equinor the Hywind Tampen development, the world’s largest project with floating platforms for offshore wind power. The company’s extensive electrification, maintenance and modifications business is also increasingly engaged in projects to reduce carbon emissions from existing plants and offshore installations.
November 11 will be the first day for the Aker Solutions share to be traded after completing the merger with Kvaerner. The combined company had about NOK 38 billion in pro forma revenues in 2019 and will employ approximately 15,000 employees in more than 20 countries.
Aker Solutions helps the world meet its energy needs. Aker Solutions employs approximately 15,000 people in more than 20 countries.
