Aker Kvaerner’s sale of Pulping and Power finalised
29 December 2006 - Aker Kvaerner’s sale of its Pulping and Power businesses to Metso Corporation has been closed today as expected.
The final transaction value will be based on the balance sheet as of 31 December 2006. Aker Kvaerner confirms the estimates given in the announcement on 8 February 2006. The estimated transaction value is approximately NOK 3 billion, net cash effect around NOK 2.6 billion and net gain compared to book value about NOK 2.4 billion. The profit earned during 2006 will be consolidated into Aker Kvaerner’s accounts.
“The completion of this transaction on time strengthens Aker Kvaerner’s financial situation and opportunities for further development of the company,” says Martinus Brandal, President & CEO of Aker Kvaerner.
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 24 000 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.
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 S. Andersen
- SVP Group Communications
- Aker Kvaerner ASA
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.