Akastor ASA: Akastor and Mitsui Seek to Expand Partnership
Akastor ASA, an oil service investment company, announced today that it is in advanced discussions with MITSUI & CO., LTD., a leading Japanese trading and investment company, to further expand their current partnership to include AKOFS Offshore. The parties have entered into a Memorandum of Understanding which includes the following …
Akastor: Sells KOP Surface Products to the Weir Group
Akastor ASA, an oil service investment company, has entered into a definitive agreement to sell KOP Surface Products (“KOP”) to The Weir Group PLC for USD 114 million on a debt- and cash-free basis. KOP is headquartered in Singapore and is a supplier of surface wellheads, trees, valves and actuators …
Akastor ASA: Kristian Røkke Appointed New CEO
Akastor ASA announced today that its Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Mr. Røkke will succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA. Kristian Røkke, who is currently Chairman of Aker Philadelphia Shipyard ASA (AKPS), a …
AKASTOR: Q2 Results – NOK 18.7 billion Order Backlog
The challenging market situation has continued in the second quarter, resulting in a mixed performance of the investments. Overall, the majority of the portfolio companies have had satisfactory performance during the second quarter. As in the previous quarter; MHWirth is the company where the market situation is having most impact. …
Akastor: Q3 Revenues Up 20%
Akastor ASA (Akastor) has operated as an oilfield services investment company since September 29th 2014, following the split of Aker Solutions ASA into two separate companies. Key management positions have been filled and the organisational structures and governance models are in place. Establishment of revised value creation plans for each …
Aker Solutions Starts Trading on Oslo Exchange After Company Split
Aker Solutions today started trading on the Oslo stock exchange as a leaner and more streamlined company that will build on its strengths in the subsea and field design markets. The company emerges after a spin-off of the Subsea, Umbilicals, Engineering and Maintenance, Modifications and Operations (MMO) businesses of the …
Aker Solutions ASA: Aker Solutions Updates Key Financial Information for the New Aker Solutions and Akastor
Aker Solutions is providing updated unaudited financial information for the two companies – the new Aker Solutions and Akastor – that will be formed following the split of the business at the end of September. Previous pro forma financial information was disclosed in the information memorandum of July 11, 2014, and …
Proposed Demerger of Aker Solutions – Publication of Information Memorandum – Impairment of Some Future Akastor Assets
The board of directors of Aker Solutions ASA has in accordance with the strategy disclosed April 30 resolved to propose to the company’s shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services …
Aker Solutions Splits to Boost Competitiveness and Value Creation: New Division to be Called Akastor
Aker Solutions will split into two companies to speed up a streamlining process that will reduce costs and better position all parts of the group to meet the needs of customers in an increasingly competitive global energy industry. The Subsea, Umbilicals, Engineering and Maintenance, Modifications and Operations (MMO) areas will …