Gulf Oil and Gas accountACCOUNT

Kvaerner Grows Decommissioning Capacity

Source: www.gulfoilandgas.com 3/14/2018, Location: Europe

Kvaerner has signed an agreement to acquire GMC Decom, a decommissioning business located at Stord, Norway. The acquisition gives Kvaerner access to additional land as well as equipment that will improve efficiency and safety at Kvaerner’s decom facilities at Eld?yane, Stord.

While EPC projects are at the heart of Kvaerner’s business strategy, the company has identified decommissioning as one of selected adjacent growth segments where the company sees additional business opportunities for many decades ahead.

The acquired demolition site is the neighbouring site to Kvaerner’s current facility at Eld?yane, Stord. The additional land will increase Kvaerner’s deconstruction area with 35 percent.

“Although small in a financial perspective, the acquisition of GMC Decom will provide us with valuable competence, equipment and land area to further increase our capacity and competitiveness in this identified growth segment for Kvaerner,” says Hans Petter M?lmen, EVP Concrete & New Solutions in Kvaerner.

Moreover, Kvaerner will this autumn have a large capacity stationary shear in operation, capable of cutting up to eight metre long steel structures with a thickness of 150 millimetres.

Last year, Kvaerner won two decommissioning projects that are currently ongoing. In addition, Kvaerner has recently won contracts for disposal of two offshore platforms, the recycling of the Varg A installation and the topside and bridge of the Valhall QP platform.

Kvaerner recently also announced a NOK 370 million investment in a new quay at the company’s facility at Stord.

One of the advantages with the new quay is that it will provide Kvaerner with an alternative loading area for structures bound for its demolition facility at Eld?yane.

“This quay investment will enable Kvaerner to execute a larger amount of large and small projects in parallel. It will also provide us with added flexibility and opportunities to target potential new markets,” adds M?lmen.

Mergers and Acquisitions News in Norway >>

United Kingdom >>  5/28/2020 - InfraStrata plc (INFA) is pleased to announce that it has entered into a term sheet with West Face Long Term Opportunities Global Master L.P. (the Ven...
Australia >>  5/25/2020 - 88 Energy Limited has commenced the despatch of its bidder’s statement dated 21 May 2020, which contains 88 Energy’s offers to acquire all of the ordi...

Netherlands/Holland >>  5/25/2020 - Fugro has received USD 17.3 million from the sale by Global Marine Group of a 30% stake in Huawei Marine Networks (HMN) to Hengtong Optic-Electric Co ...
Canada >>  5/21/2020 - Matthew Bassett, CEO & Chairman of Bassett Financial Corporation, the financial advisor for Refinery Ventures Corporation, has announced that the comp...

Colombia >>  5/21/2020 - Petrobras, following up on the press release disclosed on 03/06/20, informs that the non-binding phase related to the sale of 100% of the shares held ...
Kazakhstan >>  5/19/2020 - KBR announced that it has signed a joint venture (JV) agreement with NIPIneftegas JSC to establish a new engineering and support services company, KBR...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.