Norway's Aker Solutions announces merger with Kvaerner, new CEO

📆 18/07/2020 18:23:00
📰 BusinessTimes

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[OSLO] Aker Solutions announced a merger with Kvaerner and a new chief executive on Friday, forming a firm with US$4 billion in revenue that will target the growing renewable energy market. Read more at The Business Times.

They aim to grow revenue by 10 per cent per year to 2025 based on an expected 29 billion crowns this year, Aker said.

"Central to the deal logic is the eye-catching spin-off its wind development business and the carbon capture technology business in separate listings and fundraisings next month, analysts at equity research firm Redburn said.

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