Aker (company)

Infobox Company
company_name = Aker ASA
company_
company_type = Public
foundation = 1841
location = Oslo, Norway
key_people = Leif-Arne Langøy (CEO)
Kjell Inge Røkke (Owner)
area_served =
industry = Holding company
products =
revenue = profit NOK 62 billion (2005)
operating_income = NOK 1.2 billion (2005)
net_income = NOK -69 million (2005)
num_employees = 50,000 (2006)
parent =
subsid =
homepage = [http://www.akerasa.com www.akerasa.com ]
footnotes =

Aker ASA (ose|AKER) is a Norwegian holding company engaged within offshore, fishing, construction and engineering. The company is listed on Oslo Stock Exchange and is controlled by Kjell Inge Røkke with 66.66% ownership through TRG Holding. The corporate headquarters are located in Oslo, Norway.

Companies in the Aker Group

*Aker American Shipping (53.4%)
*Aker Capital (100%)
*Aker Drilling (35.3%)
*Aker Floating Production (44.3%)
*Aker Holding (60%, and thus indirectly 24% of Aker Kværner)
*Aker Seafoods (65.0%)
*Aker Yards (10.1%)
*Aker Material Handling (100%)
*Aker BioMarine (100%)

History

Aker Mekaniske Verksted, located on the Aker River in Oslo, started up in 1841, at first producing a variety of mechanical equipment but later focusing on shipbuilding. In the 19th century the company focused on construction of whaling-, passenger- and cargo ships. The company later started production of tankers. In the 1970s Aker entered the petroleum market, producing oil platforms. In the 1980s Aker merged with Norcem creating a large cement group in Norway with focus on the offshore industry. This part of the group was sold in 1999.

Kjell Inge Røkke used his investment company Resource Group International to purchase large amounts of Aker shares, and merged the two companies in 1996 to form Aker RGI. Through the listed partial subsidiary, Aker Maritime, Aker acquired its competitor, the offshore engineering and construction company Kværner, in 2000 and merged Aker Maritime and Kværner into Aker Kværner. Kværner had been through major economical trouble due to a bad market in the late 1990's because of the low oil price and the failed purchase of the British company Trafalgar House. After the merger the holding company changed its name back to just Aker.

See also

* List of oldest companies