AKER SOLUTIONS COMPLETED MERGER WITH KVAERNER
The merger of Aker Solutions and Kvaerner has now been completed by registration in the Norwegian Register of Business Enterprises. The Merger contemplates that Aker Solutions will absorb all the assets, rights and obligations of Kvaerner and that Kvaerner is dissolved.
Aker Solutions based in Fornebu, Norway, helps the world meet its energy needs. The company engineer the products, systems and services required to unlock energy. Goal is to maximize recovery and efficiency of oil and gas assets, while using expertise to develop the sustainable solutions of the future. Aker Solutions employs approximately 15,000 people in more than 20 countries.
Kvaerner was a Norwegian engineering and construction services company that existed between 1853 and 2005. In 2004, it was amalgamated to the newly formed subsidiary of Aker ASA – Aker Kværner, which was renamed Aker Solutions on 3 April 2008. Kvaerner re-emerged on 6 May 2011, when the EPC (engineering, procurement and construction) part of Aker Solutions took the Kaerner name.
Kvaerner Brug was founded in Oslo in 1853 by industrialist Oluf A. Onsum (1820-1899). The company became principally involved in the production of cast iron stoves. In 1870, Kvaerner built its first hydroelectric turbine. During the early 1900s, Kvaerner power turbines remained the principal product line which also included bridges, cranes, and pumps. Kvaerner was listed on the Oslo Stock Exchange in 1967. By the 1990s, the company assembled a collection of engineering and industrial businesses, including shipbuilding, construction of offshore oil and gas platforms, production of pulp and paper manufacturing equipment and operation of shipping fleet.
(Source: Aker Solutions)