Aker Solutions become largest ODIM shareholder

(Hareid, 2 April 2009): Aker Solutions AS has acquired 33 per cent of the shares in technology company ODIM from Aker ASA and Aker Invest II KS. The ODIM board has been contacted by Aker Solutions to signal that it wishes to start a process for identifying synergies and joint structural opportunities between its product and technology companies and ODIM.

“We expect to learn more in the near future about the opportunities which might be involved,” says ODIM director Njål Sævik.
“The ODIM board welcomes Aker Solutions as a new principal shareholder. We appreciate that Aker and Aker Solutions have clarified their ambitions as owner in this manner, and have clearly signalled their interest in helping ODIM to continue its progress. We’ve noted that Aker Solutions envisages that ODIM will remain a listed company, and look forward to further dialogue with our new principal shareholder.”

ODIM has collaborated over time with a number of Aker companies, and its products have been incorporated in a series of projects with Aker involvement. Aker Solutions announced today that their Aker DOF Deepwater (earlier Aker DOF Supply) joint venture with DOF evaluates chartering one or two vessels based on ODIM Smart AHTS™ technology for preset mooring. ODIM secured a contract last autumn from Aker Oilfield Services for delivery of a complete automated handling system for deepwater installation. It is also collaborating with Aker MH on the development of well intervention and light drilling operations.

“These are specific examples of the way our products complement each other and often form part of groundbreaking turnkey deliveries to forward-looking customers at the interface between the offshore and maritime industries,” says ODIM chief executive Jogeir Romestrand.
“Our starting point is that we can find new business opportunities with Aker Solutions, and that this can thereby strengthen both companies.”

Aker Solutions AS has acquired 15 545 634 shares in ODIM at a price of NOK 33 per share. After the sale, Aker ASA will own 818 566 ODIM shares, corresponding to a shareholding of 1.7 per cent.