Peter Kiewit Sons Co News

Aker Kvaerner, part of the international oil services, engineering and construction, and shipbuilding Group, Kvaerner, announced that Husky Energy has awarded the joint venture comprising Aker Kvaerner (49 per cent) and its partner Peter Kiewit & Sons Co. (51 per cent), an EPC contract for the complete topside facilities for the White Rose FPSO, offshore Newfoundland, Canada. The contract has a value of approximately $400 million. The White Rose field will be developed with a production vessel, and the contract is regarded as a major milestone in Aker Kvaerner's strategy, for which the Canadian market is a key geographical area. All engineering…

Friede Goldman Halter, Inc. (FGH) announced today it has sold the assets of Friede Goldman Newfoundland, the company’s Canadian subsidiary located in the province of Newfoundland and Labrador Canada, to Peter Kiewit Sons Co. Ltd.The transaction is part of the continuing effort to restructure the company and facilitate its emergence from Chapter 11 bankruptcy. Bob Shepherd, Executive vice president, administration of FGH, commented, “ The sale of the assets of FGN is in the best interests of the company as it emerges from Chapter 11 bankruptcy protection. The transaction allows the company to reduce outstanding obligations.”