Aker Solutions Partners with Matasis Investment Holdings in South Africa to Form a Strategic New Company
11 October 2010 - Aker Solutions in South Africa and the South African investment company Matasis Investment Holdings have formed a new incorporated company: Aker Solutions Matasis, based in Bryanston, Johannesburg. Aker Solutions holds 74% and Matasis 26% ownership in the new company, which will target the energy and metals markets offering project management, design, engineering and construction management services for major projects.
Johan Cnossen, Senior Vice President, Europe, Middle East & Africa region with Aker Solutions' Process and Construction business area said, "Aker Solutions has extensive engineering and construction capability in power generation and minerals and metals facilities, and significant world wide resources to draw upon. Similarly to other countries, it is important that we develop the local skills content and knowledge in the markets we serve in South Africa if we are to further support our long-term growth aspirations and meet local economic requirements."
Matasis Investment Holdings provides meaningful participation in the South African economy through strategic investment opportunities with successful investee companies and has a demonstrable track record in facilitating the involvement of historically marginalised communities and people in the economic prospects and growth in South Africa.
Dr Manne Emsley Dipico, Executive Chairman, Matasis Investment Holdings said, "This joint initiative, whilst firmly rooted in sound commercial considerations, provides Matasis with an excellent opportunity to partner with the stature of a leading global player like Aker Solutions. Aker Solutions has approached its involvement in South Africa with a genuine embrace of the country's transformation agenda by ensuring that an intense programme of skills transfer and development is undertaken. We remain mindful of the challenges but are extremely excited at the prospects of this partnership."
The contract party for Aker Solutions is Aker Solutions E&C International Ltd.
Aker Solutions opened an office in Johannesburg, South Africa in the final quarter of 2008. Recognising the potential growth in all sectors in Southern Africa, Aker Solutions began to look at the Nuclear, Mining, Power, Oil and Gas, Petrochemical and Water markets and held meetings with the major companies in each field.
Collaborations with local companies have been carefully considered to improve Aker Solutions' potential to deliver a full EPCm service offering. We now work closely with other locally established partners for potential nuclear opportunities, and with TWP for mining opportunities.
For further information, please contact:
Media: UK: Vanessa Mourant, VP Communications, Aker Solutions. Tel: +44 (0) 208 545 0270, Mob: +44 (0)7771 806566
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194
Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities.
Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 54 billion and employs approximately 22 000 people in about 30 countries.
Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. Through its majority-owned holding company Aker Holding AS, Aker controls 40.27 percent of the shares in Aker Solutions, and takes an active role in the development of the company.
Aker Solutions' Process and Construction business area is a world leader in the project management, design and construction of major projects spanning refining, petrochemical processing, liquefied natural gas (LNG), metals and mining, power generation, nuclear clean-up, 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.
