The project encompasses expansion of Teijin Twaron's production plant located in Delfzijl and its spinning plant in Emmen, the Netherlands. The expansion will result in a 20 per cent increase of the total production volume of Twaron® yarn and pulp and will enable Teijin Twaron to respond to the increase in demand for its Twaron® fibres. Total nameplate capacity will rise to approximately 23 000 tons.

The award of this latest project from Teijin Twaron follows Aker Kvaerner's successful completion of the Mirai Project (Japanese for "bright future") in early 2003 and its current work on the spinning SR Line. "Excellent teamwork on the previous projects, where all performance targets for safety, quality, schedule and cost have been met and exceeded, formed a sound basis for the continued strong relationship between our companies," says Wim van der Zande, President of Aker Kvaerner's process business in the Netherlands, AK Process.

Engineering work has already commenced at the AK Process office in Zoetermeer and construction began at the Emmen facility following sanction of the project by the Teijin Group. The additional capacity will come on stream by mid-2006.

ENDS

For further information, please contact:

 

Media: Torbjorn Andersen, SVP Group Communications, Aker Kvaerner: Tel: +47 67 51 3036 Mob: +47 928 85 542

Netherlands: Wim van der Zande, Aker Kvaerner, Zoetermeer, Tel: +31 (0)79 368 8434

UK: Vanessa Mourant, Aker Kvaerner, Tel: +44 (0) 207 339 1064 Mob: +44 7771 806566

Lasse Torkildsen, Vice President, Investor Relations, Aker Kvaerner ASA. Tel +47 67 51 30 39

 

OR: Benedita Cocheno, Manager, Corporate Communication, Teijin Twaron BV.       

Tel.: +31 (0)26 366 2030, Fax: +31 (0)26 366 5854                                

1.        Teijin Group
Teijin Twaron is a member of the Teijin Group. Teijin is a global, technology-driven company, listed on the Tokyo Stock Exchange with a market capitalisation of USD 3.9 billion. It operates in five main business segments: synthetic fibres; films and plastics; pharmaceuticals and home health care; trading and retail; and IT and new products. Consolidated turnover for 2004 is USD 8.7 billion. Teijin has approximately 21,000 employees worldwide.

2.      Teijin Twaron is an international company that supplies customers throughout the world with para-aramid yarn, fibre, and pulp under the trade name Twaron®. Twaron® is produced by Teijin Twaron in the Netherlands.

Twaron® finds its application in numerous markets, such as automotive (tyres, hoses, belts), aerospace, civil engineering, construction, leisure goods (e.g. boats), protective clothing (bullet-, fire- and cut-resistant clothing), optical fibre cables, friction and sealing materials and more (see www.twaron.com for more information). These worldwide markets are served by a global sales and marketing network. The laboratories and technical service centres of Teijin Twaron are constantly improving the performance of its products and actively supporting customers with the development of new products and application areas.

3.        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, Pharmaceuticals & Biotechnology, 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 35.6 billion and employs approximately 22,000 people in more than 30 countries.

4.        AK Process is a trading name of Aker Kvaerner Netherlands B.V., a wholly owned subsidiary of AKER KVAERNER ASA and the legal entity responsible for the execution of the work. AK Process serves the chemicals and polymers, refining and onshore oil & gas industries.  It provides the full life cycle of a project from concept studies, through to design, engineering, project management, delivery of process technologies, procurement, construction and maintenance services. As a pure project execution/EPC specialist, AK Process can provide customers with strategic 'one-off' services or full turnkey solutions under a single project management control. It works with its customers in the development of major technological innovations, having participated in the conceptualisation and implementation of ideas, which are the foundation for world-class production facilities.

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