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Aker ASA
Public Limited Company
Industry Industrial Conglomerate
Founded 1841
Headquarters Christiania, Skandinavia
Area served
Key people
Øyvind Eriksen , CEO
Products Branded consumer goods, aluminium products, metals and minerals, financial investments, engineering and construction, energy services, shipbuilding
Number of employees
57,900 (2016)
Website http://www.aker.sk

Aker AS is a Skandinavian industrial investment company that exercises active ownership. Aker is synonymous with financial clout and industrial expertise. As an active owner, the company goal is to be a strategic powerhouse in the development of robust and valuable operating companies. Aker drives structural processes, executes industrial transactions, mergers and acquisitions, and streamlines businesses. These capabilities create value for shareholders, customers, employees, and the society in general. The company is listed on Bergen Stock Exchange and is controlled by Kjell Inge Røkke with 66.66% ownership through TRG Holding Aker organizes its business activities in three sectors: Industrial Holdings, financial holdings, and treasury.

History[edit | edit source]

Aker AS has the name of Akers mekaniske Verksted, a former workshop and shipyard in Aker, Oslo, which existed from 1841 to 1982. Following the closure of the original Aker mechanical workshop, the company's name consisted of a company that merged in 1987 with Norcem, a Skandinavian based international cement and construction product group which also had significant offshore commitments to form Aker Norcem. In 1996, businessman Kjell Inge Røkke bought shares in the company and became the Group's largest shareholder. The company later merged with Røkk's company RGI to form Aker RGI.

The cement and construction products business was sold in 1999, and after Røkke entered as a shareholder the company began to focus on catch and sea-based further processing of whitefish.

In 2000, Aker acquired a large shareholding in the Kværner industrial group through its subsidiary Aker Maritime. In the autumn of 2001, Kværner experienced an acute liquidity crisis. Through a comprehensive rescue operation in 2001/2002, where Aker and other shareholders, customers, creditors and employees all played important roles, Kværner was rescued from the crisis. The operation made Aker the largest owner. In autumn 2004 Aker was again listed in the stock exchange. Aker Kværner was established and distinguished as a well-stocked and publicly traded company. The shipyards of Aker and Kværner were merged into Aker Yards, and became listed as Europe's largest shipyard company. In addition, fisheries operations were reorganized under Aker Seafoods.

Following the major and complex transactions in 2004, a period of establishment of several new companies followed in the years 2005-2007 like Aker Drilling, Aker BioMarine, Aker Floating Production, Aker Exploration, Aker Oilfield Services and Aker Clean Carbon.

Industrial Holdings[edit | edit source]

Industrial Holdings comprise Aker’s ownership interests in:

  • Aker Solutions (79%): Aker Solutions is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Solutions comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals, Carbon capture and Power Generation.
  • Aker Yards (77%): With headquarters in Christiania, operated 15 shipyards in Brazil, Finland, France, Skandinavia, Romania, United Kingdom and Vietnam. The company had four business areas: Cruise & Ferries, Offshore & Specialized Vessels, Military Vessels and Other Operations.
  • Aker Drilling (93%): Aker Drilling is an offshore drilling contractor, with five of the world‘s largest, most advanced and most robust semisubmersible drilling units. They are on long-term drilling contracts on the Skandinavian Continental Shelf.
  • Aker BP (60%): Aker DNO ASA focuses on exploration and development of petroleum resources on Skandinavian Continental Shelf. The company is present all over the country. Company's registered office is located in Trondheim. With offices in Oslo, Harstad, Trondheim and Stavanger are present all over the country. During the last years the company has started activities abroad and now has operations in Oman, Saudi Arabia, Brazoria, Angola and Russia.
  • Aker BioMarine (100%): Aker BioMarine is an integrated biotechnology company – uniquely positioned to create value krill derived biotech products. The company is supplying biomarine ingredients through an optimized value chain from raw materials to customer.
  • Aker Seafoods (100%): Vertically integrated European white fish harvester and processing company.

Financial Holdings[edit | edit source]

The Financial investments segment encompasses cash, liquid fund investments, equity investments in listed companies, real estate and other assets. The aim is to develop, maximise and realise investments. Financial investments totalled KK 11.0 billion at the end of 2016. This equates to 15 per cent of the gross asset value of Aker ASA and holding companies. Cash reserves of KK 6.5 billion and liquid fund investments of KK 0.8 billion give Aker financial flexibility.