Aker Maritime Aims For Savings Via Restructuring
Friday, December 03, 1999
Norwegian offshore services firm Aker Maritime plans to save $62 million within two years through a restructuring program that calls for Aker to merge four of its business divisions into two starting in January. The company plans to set up a deepwater firm in Houston, Texas, and a North Sea firm based in Stavanger, Norway to pool the work previously done by four divisions.
The changes would allow for improved competitiveness and cost cuts, resulting in a yearly savings, officials said.