Press Esc to close

WorldOil

World Oil News Center



Aker Solutions sells mooring and loading systems business to Cargotec

OSLO -- Aker Solutions today agreed to sell its mooring and loading systems business to Cargotec, for an enterprise value of nearly $250 million.

The unit, known for the Pusnes brand name, provides mooring equipment, loading and offloading systems, as well as deck machinery for the global offshore and shipping markets. Aker Solutions will book a gain of about $170 million from the sale.

The division employs about 370 people in Europe, Asia and the Americas, and has its main office in Arendal, Norway. It generated revenue of $170 million, and earnings before interest, tax depreciation and amortization of roughly $27 million in 2012.

Leif Haukom, who heads the business area at Aker Solutions, will continue to lead the unit after the transaction. Structured as a share sale, it is set to be completed in first-quarter 2014, pending approval from competition authorities.

10/30/2013

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS