Aker Kvaerner acquires drilling technology company

Aker Kvaerner has acquired 50% of Erkelenz, Germany-based Wirth Maschinen- und Bohrgeräte-Fabrik GmbH with an option to buy the remaining shares.

Aug 1st, 2007

Offshore staff

LYSAKER, Norway -- Aker Kvaerner has acquired 50% of Erkelenz, Germany-based Wirth Maschinen- und Bohrgeräte-Fabrik GmbH with an option to buy the remaining shares.

Wirth is a supplier of drilling equipment including mud pumps, drawworks, and components for top drives. The company also provides tunnel and foundation boring machines for infrastructure projects and products for the mining and processing industries.

"Wirth technology complements Aker Kvaerner's technology portfolio and enables us to offer our own complete drilling packages," says Mads Anderson, executive vice president of AkerKvaerner. "It also provides an excellent foundation for further technology development."

Wirth has been a supplier for Aker Kvaerner subsidiary Aker Kvaerner MH for more than 20 years.

8/1/2007

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