Aker Solutions acquires remaining shares in Wirth GmbH
Aker Solutions has acquired the remaining 50% share in the German company WIRTH Maschinen- und Bohrgeräte- Fabrik GmbH (WIRTH), a supplier of drilling equipment. After this transaction Aker Solutions holds 100% of the shares in WIRTH.
In August 2007, Aker Solutions acquired 50% of the shares in WIRTH, with an option to buy the remaining stocks. WIRTH’s technology complements Aker Solutions’ portfolio of drilling equipment products and technology. The relationship between Aker Solutions and WIRTH has been very successful for nearly two decades. The drilling rig market provides significant business opportunities for Aker Solutions, and the integration of WIRTH’s portfolio will further strengthen the lifecycle services offering.
“We believe that the 100% ownership in WIRTH will enable us to accelerate and further strengthen our ability to realise the synergies between the companies, enabling us to optimise our products and services offering to our customers. This acquisition gives us greater flexibility to execute our growth strategy for the drilling equipment market,” says Per Harald Kongelf, executive vice president in Aker Solutions.
This acquisition is pending antitrust clearance.
Aker Solutions ASA, through its subsidiaries and affiliates (“Aker Solutions”), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions’ business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.
Aker Solutions’ parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 26 000 people in about 30 countries.
Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
Notes to Editors:
WIRTH is a privately held company headquartered in Erkelenz, Germany, and currently employs 500 people. In addition to the operations in Erkelenz, WIRTH has subsidiaries and joint ventures in the US, China, Italy and Ukraine. WIRTH’s products are shipped to global markets. The company’s revenue in 2007 amounted to EUR 200 million and has a strong order backlog, competence and technology base for further development of drilling equipment.
For the last 110 years, WIRTH has been successfully developing, manufacturing and selling drilling equipment and systems. The company provides cutting-edge technical solutions for a wise variety of requirements.
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