Aker ” height=”200″ src=”https://www.offshore-technology.com/wp-content/uploads/static-progressive/nri/offshore/news/Tranby%20facility.jpg” style=”padding: 10px” title=”Aker Solutions Tranby facility outside of Oslo in Norway is growing rapidly and employs 630 people” width=”300″ />
Norwegian oil services firm Aker Solutions said it will invest $87m to expand its subsea manufacturing capacity.
The funds will be used to purchase new machinery and finance the physical expansion of the facilities in Port Klang in Malaysia and Tranby in Norway.
A new service base in Labuan, Malaysia, is also expected to open in July this year to support installed and future deepwater projects in the Asia-Pacific region.
Aker Solutions executive vice president of subsea business area Alan Brunnen said the company was preparing for expansions in all markets and regions.
"They will also increase our capability to serve our clients and our ability as their preferred partner," said Brunnen.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Aker said that the expansion will help it get a larger market share of subsea production technologies, including subsea trees, control systems, pumps and work-over systems.
Around 80% of the investments will be made this year, including the purchase of new machines, equipment and tooling, while balance investments are expected to be made in 2013 and 2014.
Aker Solutions has two other subsea service bases in the Asia Pacific region; one is located in Perth, Australia, and the other in Kakinada, India.
Image: Aker Solutions Tranby facility outside of Oslo in Norway is growing and employs 630 people. Photo: courtesy of Aker Solutions.