Aker Solutions completes Enovate transaction
27 February 2013 - Aker Solutions confirms that the transaction to buy a majority stake in Enovate Systems Limited, a leading technology company within subsea well control equipment, has been closed.
Aker Solutions on January 29 announced that it had agreed to buy a controlling stake in Aberdeen-based Enovate. The transaction was closed on 26 February 2013. Enovate has developed a wide range of unique and patented components and products for use in open water workover systems, in riser workover systems, rigless intervention systems and drilling safety systems.
Enovate's financial results will be consolidated in Aker Solutions' subsea business area. The financial details of the acquisition are undisclosed.
For further information, please contact:
Severin Roald, Vice President Communications, Aker Solutions. Tel: +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: firstname.lastname@example.org
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 91 13 71 94, E-mail: email@example.com
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers
Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field.
Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 27 500 people in more than 30 countries. We apply the knowledge and create and use technologies that deliver our customers' solutions.
Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion. The company is listed on the Oslo Stock Exchange.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Aker Solutions ASA via Thomson Reuters ONE