Aker Set to "Streamline" Operations

Aker Kvaerner is to merge its maintenance, modifications and operations business with its field development division, to take effect from January 2009.

The new division will have around 8,500 employees, including more than 2,300 engineers, says the company.

The company hopes to "streamline" operations to "further sharpen our commercial edge to win new projects in new and current markets", says President and CEO Simen Lieungh.

In January, the Norwegian engineering company announced it would be transforming its image with a name change and appointment of new CEO later this year.

The newly named Aker Solutions will represent a "simplification and strengthening of its corporate identity", according to the company, which is set to approve the proposal at its Annual General Meeting this week.

By Ozge Ibrahim