Aker Kvaerner Invests in Expansion and Relocation of Specialised Technology Shop
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18 February 2008 - Aker Kvaerner ASA, the Norwegian engineering powerhouse has announced its commitment to further invest in its Process & Construction business by relocating and expanding the company's technology fabricationarm; Aker Kvaerner Chemetics in Toronto, Canada.
The new state-of-the-art fabrication shop, to be built in Pickering, Ontario, just east of Toronto, represents an investment of CAD 17.7 million . Aker Kvaerner Chemetics was established in Greater Toronto in 1961. The construction of this facility will enable Aker Kvaerner Chemetics to further capitalise on their expertise in specialised welding, stainless steel and high alloy fabrication. The new facility will provide higher and heavier lift capacity for larger equipment and will increase production.
"We are expanding the customer base in our traditional sulphuric acid markets and further expanding into equipment supply to the energy and process markets," says Doug Shaw, President of Aker Kvaerner Chemetics.
"Construction of this facility will allow us to capitalise on the market's demand for shell and tube fabrication by more than doubling our production capacity in Toronto. We expect employment to increase 40% by the end of 2009," says Bob Vanderland, president of the Toronto facility.
Integrating the Company's comprehensive Health, Safety and Environmental principles, the new facility will provide improved workflow by eliminating congestion in work areas, more efficient energy usage, and built-in waste management systems.
"This is an important strategic investment for the business as we continue to service our customer base with the highest quality of technological solutions in the industries we serve," says Martinus Brandal, President & CEO of Aker Kværner ASA.
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 and Power Generation. The Aker Kvaerner group is organised in 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 58 billion and employs approximately 24 000 people in about 30 countries.
Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.27 percent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.
Aker Kvaerner's Process and Construction business area is a world leader in the project management, design and construction of major projects spanning refining, petrochemical processing, metals and mining, power generation, and acid plants. From initial concept through technology development, process technology application, design, procurement, construction, commissioning, operations, maintenance, modification and decommissioning, we provide our customers with the full life cycle of services. Process and Construction provides sound local expertise, combined with the depth and strength of global project operations.
Aker Kvaerner Chemetics is a process technology company offering engineered systems, proprietary equipment, and complete turnkey plants, to the chemical, water treatment, fertiliser, pulp and paper and non-ferrous metals industries world-wide. We provide innovative processes that enhance performance and productivity while protecting the environment. Our cost-effective solutions result in plants that are safe, reliable, efficient and environmentally acceptable. To maintain our leadership position, we are constantly refining our technologies and developing our know-how through significant R&D expenditures to ensure that our products and services continue to meet the needs of the customers and industries we serve.
For further information, please contact:
Media:
Jannik Lindbæk
SVP Corporate Communications
Aker Kvaerner
Tel: +47 67 51 30 36
Mob: +47 977 55 622
Anita Wakelin
Communications officer
Aker Kvaerner Chemetics.
Tel: +1 604 737 4514
Investor relations:
Lasse Torkildsen
SVP Investor Relations
Aker Kvaerner
Tel: +47 67 51 30 39
Mob: +47 911 37 194
Suppliers: For further information about sourcing and potential subcontracts for this project, please contact
Liang
Vice President Global Sourcing
Tel.: +86 (0)10 6409 6636.
Career opportunities: Visit http://akerkvaerner.com/Internet/CareerCentre
