"The acquisition of Phoenix secures the delivery of key elements to our deepwater drilling riser technology" says Svein Haug, Senior Vice President Umbilical and Risers, Aker Kvaerner Subsea. "We believe Aker Kvaerner can help Phoenix realise their full growth potential."

"Phoenix has a significant growth potential and we believe that Aker Kvaerner can contribute to further expand this company."

Phoenix was established in 2003 and has its offices and manufacturing facilities in Aberdeen.

The company will continue to trade under the successful Phoenix name.

ENDS

 

 

Media:
Svein Haug, SVP Umbilical and Risers, Aker Kvaerner Subsea. Tel: +47 67826188, Mob: +47 913 59 307

Torbjørn S. Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542

 

Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39

 

Suppliers:
Roger Lunde, Vice President, Global Supply Chain, Aker Kvaerner Subsea. Tel: +47 32 85 94 78

 

Career opportunities:
Visit http://www.akerkvaerner.com/Internet/CareerCentre

 

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 and Power Generation. The Aker Kvaerner group is organised in 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 50 billion and employs approximately 23 000 people in about 30 countries.

Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.1 per cent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.

 

Aker Kvaerner Subsea is a leading provider of a complete range of surface and subsea solutions for the oil and gas industry - from concept screening and design through manufacturing, fabrication and commissioning. Aker Kvaerner Subsea's ability as a world-wide total system provider is backed by a wide portfolio of products which are maintained for the complete life of field. Aker Kvaerner Subsea's capability is available for both new and existing fields either as individual activities or complete packages.

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