Aker ASA

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Aker ASA
Type of Company	Public
Founded	1841
Headquarters	Oslo, Norway
Key people	Leif-Arne Langøy (CEO) Kjell Inge Røkke (Owner)
Industry	Holding company
Revenue	NOK 62 billion (2005)
Operating income	NOK 1.2 billion (2005)
Net income	NOK -69 million (2005)
Employees	50,000 (2006)
Website	www.akerasa.com

Aker (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.

[edit] Companies in the Aker Group

• Aker American Shipping (53.4%)
• Aker Capital (100%)
• Aker Drilling (35.3%)
• Aker Floating Production (44.3%)
• Aker Kværner (50.01%)
• Aker Seafoods (65.0%)
• Aker Yards (50.4%)
• Aker Material Handling (100%)

[edit] History

Aker Mekaniske Verksted located on the Aker River in Oslo started up in 1841, at first producing a variety of machanical equipment but later focusing on shipbuilding. In the 19th century the company focused on construction of whaling-, passenger- and cargo ship. The company started producing tankers. In the 1970s Aker entered the petroleum marked, producing oil platforms. In the 1980s Aker merged with Norcem creating a large cement group in Norway with focus on the offshore industry. This bit 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 Martime Aker acquired the competitor and 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 marked in the late 1990s because of low oil price and the failed pruchase of the British company Trafalgar House. After the merge the holding company then changed back its name to just Aker.

[edit] See also

• List of oldest companies