Aker Kvaerner wins USD 70 million pulping contract in Japan

3 October 2006 - Aker Kvaerner has received an order from a confidential client for delivery of a new fiberline, an upgraded cooking plant and a modernised white liquor plant for a pulp mill in Japan. The contract is worth approximately USD 70 million to Aker Kvaerner.

The order to Aker Kvaerner is part of an expansion project at the integrated mill. The expansion project will improve quality and increase the capacity by 500 tonnes of pulp per day.

“Japan remains an important market for Kvaerner Pulping. This new order underlines our position as the number one productivity provider and reflects the confidence we have built amongst Japanese pulp mills since we established operations in Japan back in 1932,” says Per-Åke Färnstrand, President at Kvaerner Pulping.

The scope for Kvaerner Pulping, part of the Aker Kvaerner group, comprises a new fiberline including oxygen delignification and a bleaching plant using the proprietary Compact Press(TM) technology, an upgrade of the cooking plant featuring a rebuild to the state-of-the-art Compact Cooking(TM) G2 technology, and a modernisation of the white liquor plant, including a new lime kiln.

Use of the best available technology gives the Japanese mill several environmental advantages. The rebuilt digester, the largest in Japan, will by using the Compact Cooking(TM) G2 technology for example significantly improve both the environmental profile and the economics of the plant.

Plant start-up is scheduled for the second quarter of 2008.

ENDS

For further information, please contact:

Investor relations:
Lasse Torkildsen, Vice President, Aker Kvaerner, Group Comms. Tel: +47 67 51 30 39

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact:
Peter Lindegreni, Kvaerner Pulping Supply Management. Tel: +46 70 5557242

AKER KVÆRNER ASA, through its subsidiaries and affiliates (“Aker Kvaerner”), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.

The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 41.4 billion and employs approximately 23 000 people in more than 30 countries.

Aker Kvaerner is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 50 000 employees and NOK 80 billion revenues. Aker owns 50.01 per cent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

Kvaerner Pulping is a leading supplier of machines, process systems and service to the world-wide pulp and paper industry. Kvaerner Pulping, with headquarters in Karlstad, Sweden, has 630 employees in 12 countries around the world. Kvaerner Pulping is committed to continuously improving its customers’ products, productivity and profitability through the delivery of innovative technical solutions. Kvaerner Pulping offers the full range of engineering, procurement and construction services, from single machines to complete fiberlines and white liquor plants.

This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com

Contact Information

Torbjørn Andersen

SVP Group Communications

Aker Kvaerner ASA

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