Surface Products News

Aker Solutions reports its second-quarter 2014 earnings ahead of its plan to split into two companies at the end of September 2014. One company will keep the current name and be comprised of the Subsea, Umbilicals, Engineering, and Maintenance, Modifications and Operations (MMO) areas. Aker adds that pro-forma second-quarter revenue for the new Aker Solutions rose to NOK 8.1 billion from NOK 7.5 billion a year earlier, helped by a 13 percent increase in sales of subsea equipment and services. The new company's pro forma earnings before interest, taxes, depreciation and amortization (EBITDA) increased to NOK 592 million in the quarter from NOK 481 million a year earlier.

The board of directors of Aker Solutions ASA has in accordance with the strategy disclosed April 30 resolved to propose to the company's shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services unit of Akastor, one of two companies that will emerge from the separation. Aker Solutions Holding ASA - a subsidiary of Aker Solutions ASA established for the purposes of the demerger…

Aker Solutions opened a new operation center in . The new operation center, which is located within state-owned base of Petroleum Technical Services Corp (PTSC), will provide strategic and effective support services for Aker Solutions' onshore and offshore oil and gas customers in the country. The opening ceremony, held at the new office at Vung Tau, was jointly officiated by Egil Martinussen, president - Asia Pacific for Aker Solutions' subsea business area, and Mr Khanh, director, Petro , branch. Aker Solutions' general manager Surface Products and Services, Crawford Tennant, said the new operation base demonstrated the company's commitment to provide unparalleled services to its customers, while acting as a nucleus in to capture other potential clients.