Aker Solutions to boost subsea manufacturing capacity
20 April 2012 - International oil service group Aker Solutions is preparing for major growth by investing NOK 500 million (USD 87 million) in its subsea business. This investment is set to double the capacity of its manufacturing plants in Tranby, Norway, and Port Klang, Malaysia. In addition, a new service base will also be established in Malaysia.
These planned investments are a response to a wave of existing orders and recognition of the growing market demand. Aker Solutions ability to serve its current and future clients will be improved and this development will facilitate market share growth within subsea production technologies, including subsea trees, control systems, pumps and work-over systems.
The investments include the addition of brand new machines and a physical expansion of the facilities in Port Klang, Malaysia, and Tranby, Norway. The new service base in Malaysia will support projects in the Asia-Pacific region.
"The subsea market has strong fundamentals and this steady growth is expected to continue. We are now preparing for expansion in all markets and regions and these investments give us great momentum. They will also increase our capability to serve our clients and our ability as their preferred partner", says Alan Brunnen, executive vice president of Aker Solutions' subsea business area.
Approximately 80 percent of the investments will be made this year, including the purchase of new machines, equipment and tooling. The remaining investments will continue throughout 2013 and 2014.
In the past, Aker Solutions has invested heavily in Malaysia, which is their deepwater hub in the Asia Pacific region. This includes the company's manufacturing centre in Port Klang close to Kuala Lumpur which employs close to 800 people and a 600-strong front-end, design and engineering hub in Kuala Lumpur.
The Tranby facility outside of Oslo, is growing rapidly and employs 630 people, acting as the centre of excellence for Aker Solutions' subsea operations.
The new service base in Labuan Federal Territory in East Malaysia will support the installed and future deepwater projects in the Asia Pacific region and will open in July this year. Aker Solutions has two other subsea service bases in the Asia Pacific region; one is located in Perth, Australia, and the other in Kakinada, India.
ENDS
For further information, please contact:
Media:
Severin Roald, Vice President Communications, Aker Solutions. Tel: +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: severin.roald@akersolutions.com
Investor relations:
Astrid Thommesen Sæbø, Vice President Investor Relations, Aker Solutions. Tel: +47 22 94 63 37, Mob: +47 48 17 00 35, E-mail: astrid.thommesen.saebo@akersolutions.com
Suppliers:
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers
Career opportunities:
Visit http://www.akersolutions.com/careers
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 23 500 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their 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.
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