OSLO, Norway -- Aker Kværner ASA has proposed to change its name to Aker Solutions ASA.
During 2007, a long-term and stable ownership structure was established for Aker Kvaerner. More than 40% of the company's shares were transferred from Aker to Aker Holding, a holding company controlled by Aker. The owners of Aker Holding have mutually agreed that the company will keep its Aker Kvaerner shares for at least ten years.
"With this clarification of ownership and the many business opportunities we see ahead in the interface between Aker Kvaerner and other Aker companies, we found the time right to change name and clarify our close ties with other companies in the Aker family," says Martinus Brandal, Aker Kværner ASA's president & CEO. "The new name, Aker Solutions, represents a simplification and strengthening of our corporate identity, and it outlines our offering of comprehensive industrial solutions."
The proposed name change is subject to approval at the ordinary annual general meeting on April 3, 2008.