Aker sells maintenance company

Aker Kvaerner has signed an agreement with ISS Facility Services regarding the sale of their subsidiary, Aker Kvaerner Industrial Maintenance. The agreement is pending approval from the respective Boards and the Norwegian Competition Authority.

Aker Kvaerner Industrial Maintenance, including the subsidiary Aker Kvaerner IPEC, has a workforce of approximately 440 employees and is situated in the Norwegian cities Mosjøen, Odda, Høyanger and Kristiansand. In 2004, the company had revenues of approximately NOK 290 million, and the core business is industrial maintenance within Norwegian land-based industry.

"We wish to concentrate our maintenance operations in the oil and gas sector, and we have therefore chosen to give Aker Kvaerner Industrial Maintenance new owners. We are satisfied that ISS, as a major actor within service and maintenance, will develop the company further and that this will become an important priority area for the new owners," said Torleif Gram, Executive Vice President, of Aker Kvaerner.

ISS is a global company within operation and maintenance services with a 2004 turnover of more than NOK 44 billion. ISS employs approximately 300,000 people worldwide. ISS Facility Services AS in Norway has an annual turnover of approximately NOK 4 billion, and employs around 10,000 people in Norway.