Aker Solutions

Aker Solutions

Aker Solutions ASA (OSE: AKSO); a Norwegian oil services company headquartered in Oslo; is a global provider of products and services in engineering, construction, maintenance, modification and operation of new and existing oil and gas fields. The company, with roots back to 1841, was known as Aker Kværner prior to 2008.

The predecessor company, Aker Kværner (OSE: AKVER) was founded in 2004 as the result of a major restructuring of a complex 'Aker Kværner' business unit, formed originally in 2002 by the merger of Aker Maritime and Kværner Oil & Gas. On 3 April 2008, Aker Kværner was renamed to Aker Solutions, partly due to the difficulty that most non-Norwegian people found in pronouncing "Kværner".

The company was majority controlled by Aker ASA until 2007. Through a major ownership restructuring on 22 June 2007, Aker ASA completely exited its holding in Aker solutions, and transferred a 40% stake to Aker Holding - which in turn owned by Aker ASA (60%), the Norwegian Ministry of Trade and Industry (30%), SAAB (7.5%) and Investor AB (2.5%).