In the first two days of the week, Aker Solutions (OSE: AKSO) has already communicated two major orders and some acquisitions in Norway. The first contract was for Ichthys gas-condensate field umbilicals awarded to Aker Solutions by the main EPCI contractor of the field McDermott International (NYSE: MDR). The value is around 440 million NOK. This was followed on Tuesday by a 485 million Mono Ethylene Glycol (MEG) reclamation plant order on the said Ichthys field for an LNG Project. It was awarded by Technip (Euronext: TEC).
Aker Solutions also announced the acquisitions of Subsea House and SSH Engineering from Subsea Holding AS. Together the two five-year old subsea tools and products developers employ about 40 people in Stokke, Vestfold county, Norway. The companies together developed a state-pf-the-art subsea products testing facility which is involved in the deal. It has test bunkers and large test pits with overhead crane capacity. Aker Solutions is happy to also get the experienced personnel and plans to recruit some 50-100 more people in a two-year window to further expand in Stokke as a part of a wider company strategy to bet on the growth of subsea business. The acquisition is expected to complete during Q3 subject to to approval from the Norwegian Competition Authority. Financial details were not disclosed.
No comments:
Post a Comment