Annual report 2008 - Aker Solutions

About us
Historical facts
Who we are and what we do
Aker Solutions delivers engineering, construction,
manufacturing, technology products, maintenance
and other specialised services, often as total solutions
for complete projects.
Global scale
Aker Solutions has annual revenues totalling
NOK 58.3 billion and more than 23 000
employees. We have offices in around 30
countries worldwide.
Markets and customers
Aker Solutions delivers products, services
and solutions to customers worldwide in
the oil and gas, refining, chemicals, metals
and other process industries, including
mining, nuclear and power generation.
Our deliveries enable our customers to
build, efficiently operate and effectively
maintain their facilities. Examples include
complete offshoreplatforms for oil and gas
projects and onshore petrochemical
plants.
Ownership
Aker Solutions is part of Aker (www.myaker.
net) and was listed on the Oslo Stock
Exchange in 2004 under the name Aker
Kværner ASA. Aker Solutions’ largest
shareholder is Aker Holding AS, with a
40.27 percent stake in the company.
Aker Holding AS is owned by Aker ASA
(60 percent), the Norwegian Government
(30 percent), SAAB AB (7.5 percent) and
Investor AB (2.5 percent).
The companies brought together to
create Aker Solutions were established
in the first half of the 19th
century, during the Industrial
Revolution. Cutting-edge technology
and engineering providers from the
very beginning, they delivered
products including steam engines
for rail and marine use and arange
of industrial ironworks.
Over the next 100 years, the
businesses grew significantly. Inthe
mid-1900s, both Aker and Kvaerner
were international corporations with
activities in ship building, hydro
power, wood processing and other
process operations, mechanical
workshops and other industries.
Through the 1970s, 80s and 90s,
they developed their capabilities
and experience as suppliers of
complete solutions to offshore and
onshore oil and gas and processing
projects. They each grew –organically
and through international
acquisitions –tobeleaders in their
markets.
On 11 March 2002, the former
Kvaerner group and the Aker
Maritime group (comprising the oil
and gas activities of the wider Aker
group) were merged, and started to
operate as one company under the
name Kvaerner.
On 29 March 2004, following
arestructuring of both Aker and
Kvaerner, Aker Kvaerner was
established.
On 3April 2008 Aker Kvaerner
changed its name to Aker Solutions.
Aker Solutions annual report 2008 3