The Concord Alliance becomes fully effective immediately and closely follows the contract awarded to Aker Kvaerner in August 2004 by Lucite for Project Design services at its Cassel Works site. 

The Concord agreement is an integrated alliance project between Aker Kvaerner, two other contractors and Lucite International: Cordell Group is providing pipework and fabrication services, and Hertel is providing scaffolding, insulation and civil engineering services. 

Aker Kvaerner also provides planning, mechanical, electrical and instrumentation resource for term maintenance, projects and overhaul support at Lucite's Newton Aycliffe site. 

The Concord Alliance will execute work valued at approximately GBP 5 million per annum.  The integrated Concord Management team will jointly prepare, plan and execute work for Lucite International.

Nick Faase, Concord Project Director, says: "We have rationalised our contractor base and selected this alliance team to ensure we make the best use of the proven skills available from these companies; to reduce administration and costs; and, to instigate a performance-based contract with all parties working together for shared benefit. We are confident that Aker Kvaerner's, Hertel's and Cordell's considerable experience and strong track record in delivering the required life cycle solutions will support this alliance in achieving the improvements we need in work execution, efficiency and performance, whilst retaining the very highest HSE standards."

Mark Leggett, President of AK Engineering Services, concludes, "We have provided mechanical maintenance support, overhaul support, design and engineering services to a consistent high standard over the last five years and, through this alliance, we look forward to reinforcing the close and successful working relationship that we have established with Lucite International, Hertel and Cordell."

The contract involves TUPE (Transfer of Undertakings (Protection of Employment)) (ref. Note 4)of electrical and instrumentation personnel from the incumbent contractor. Aker Kvaerner's track record with TUPE and transition management were seen as a key benefit by Lucite International.

Resins produced at the Newton Aycliffe site are used in medical applications such as dentures, orthodontic devices and bone cements. The plant also produces highly specialised grades such as glass interleavants and solution resins for pressure sensitive adhesives.

Cassel Works is the largest monomer (methyl methacrylate) production facility in Europe. Lucite International is the world's leading producer of methyl methacrylate (ref. Note 5) and the only producer to have production facilities in the three major economic regions of Europe, Asia Pacific, and the US. Lucite International is the owner of the world-renowned Lucite® and Perspex(TM) brands.

ENDS

 

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

UK: Sarah Weyell, Aker Kvaerner, Stockton-on-Tees, UK: +44 (0)1642 602221

UK: Vanessa Mourant, Aker Kvaerner, London: + 44 (0)20 7339 1064 Mobile: +44 (0)7771 806566

 

1.        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.

2.        AK Engineering Services is the trading name of Aker Kvaerner Engineering Services Ltd., the legal entity responsible for the execution of the contract, and one of the core businesses of the Aker Kvaerner group in Europe.  It provides total asset life cycle solutions including conceptual design, engineering, procurement, project management, construction and commissioning, through to operation and maintenance services, modifications and process improvements.  Also offered are consultancy services in reliability, business modelling and environmental, health, safety and risk management.

3.        A global manufacturer of intermediate chemicals and materials, Lucite International has over 25% of the global methacrylates market with sales volumes over 900 kte (1.9 billion lbs). Annual turnover is circa USD 1 billion.
Brands include Lucite®, Perspex(TM), Diakon(TM), Elvacite(TM), Ultra(TM), ModenGlas®, Prismex®, Tufcoat(TM), Timberstone(TM), Asterite®, and Avron®.

4.        The Transfer of Undertakings (Protection of Employment) Regulations 1981 (as amended) - commonly known as the TUPE Regulations - safeguard employees' rights where businesses change hands between employers.

5.        MMA is the building block for many products. It polymerises easily to form resins and polymers of excellent transparency, strength and outdoor durability and can be co-polymerised with other monomers to form a broader range of products typically used for paints and coatings. It is also polymerized into a solid form for use in items such as vehicle tail lights, signs, point-of-sale displays, mirrors, baths, spas and work surfaces, blood cuvettes, computer housings and screens.

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