- Kværner
Infobox Company
company_name = Kværner ASA
company_
company_type = Public
foundation =1853
location =Oslo ,Norway
key_people =
area_served =
industry =Heavy industry
products =
revenue =
operating_income =
net_income =
num_employees =
parent =
subsid =
homepage = http://www.kvaerner.com
footnotes =Kværner was a
Norway -basedengineering andconstruction services company in existence between1853 and2005 when it was merged withAker ASA . The Kværner name was used in the subsidiary Aker Kværner until April 3rd, 2008 when it changed name toAker Solutions .History
Kværner was founded in
Oslo in 1853 and listed on theOslo Stock Exchange in1967 . By the 1990s, Kværner assembled a collection of engineering and industrial businesses, includingshipbuilding , construction of offshore oil and gas platforms, production of pulp andpaper manufacturing equipment and operation of shipping fleet.In
1992 Kværner acquired the Swedish companyGötaverken . In1996 , Kværner acquired the UK conglomerate Trafalgar House and moved its international headquarters from Oslo toLondon . [ [http://www.iht.com/articles/1996/02/28/traf.t.php Kvaerner Is Close to Bidding for Troubled Group: Lifeline for Trafalgar House?] ] It added further acquisitions, financed predominantly by debt, until the economic slowdown in2001 and a series of management missteps brought the company to the brink of bankruptcy. In November 2000, Kværner sold its Construction Division to the Swedish companySkanska .In November 2001, Kværner was forced to merge with its rival
Aker ASA , a Norwegian oil services group controlled byKjell Inge Røkke . Røkke scuppered the solution preferred by Kværner's management, a rescue by Russia's oil giantYukos . Kværner's international headquarters returned to Oslo and Kværner was restructured to become a holding company, with operating activities concentrated inAker Kværner andAker Yards . As of2005 Kværner ASA was merged with Aker Martitime Finance AS, a wholly owned company of Aker ASA and the Kværner corporation ceased to exist.References
External links
* [http://www.kvaerner.com www.kvaerner.com]
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