Aker Kvaerner Celebrates Subsea Engineering and Manufacturing Center

May 7, 2007

Aker Kvaerner will officially celebrate the expansion and state-of-the-art upgrade of its integrated subsea engineering and manufacturing facilities in Tranby, Norway on May 10. Aker Kvaerner invested NOK 65 million in 2006 and 2007 to develop the manufacturing operation into the world's most efficient subsea christmas tree manufacturing facility.

Work on the facility has now been completed, just 12 months after Aker Kvaerner announced the investment. The new streamlined operations will increase Aker Kvaerner's ability to respond to customer needs with reduced lead times and more rapid execution. Aker Kvaerner Subsea has another two facilities coming on line this year. The new North Sam Houston Parkway West aftermarket facility in Houston was officially opened on 25 April, while the new USD 100 million high technology manufacturing centre in Kuala Lumpur, Malaysia, will be launched early June.

Approximately 600 people are based in the Tranby facility which supplies equipment for clients including Statoil, Total, BP, Murphy, Shell, Marathon and Norsk Hydro, among others. Aker Kvaerner Subsea has other manufacturing and testing facilities in Ågotnes and Moss, Norway; Curitiba, Brazil; Mobile and Houston, USA; Batam, Indonesia; Perth, Australia and Aberdeen, Scotland and in Malaysia.

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