Aker joins forces with Aker Kvaerner, Aker Yards to form Aker Innovation |
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Thu, 01 Mar 2007 09:22
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OSLO (AFX) - Aker ASA said it has joined forces with units Aker Kvaerner ASA and Aker Yards ASA to establish a new company, Aker Innovation, which will focus on leveraging the three company's industrial and financial abilities to identify industrial projects capable of being developed into new companies.Under the terms of the agreement, Aker said it will own 67 pct of Aker Innovation, while Aker Kvaerner and Aker Yards will each own 16.5 pct of the new company.Aker said Aker Innovation is already 'developing several potential projects'.The first, it said, is a partnership with DOF Subsea, and involves opportunities within subsea well intervention services for deepwater offshore fields.The partnership is planning to establish a new company, to be known as Aker Oilfield Services.Under existing plans, Aker said Aker Kvaerner will deliver complete well access and control equipment services, while DOF will deliver marine crew and other operational services.Aker Yards, meanwhile, would design and construct the well intervention vessels.Further details of Aker Oilfield Services will be announced at a later stage, Aker added.alastair.reed@thomson.comar/ambCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Aker to sell up to 2.34 mln shr in Aker Yards, cutting stake to 40.1 pct vs 50.4 