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Aker Solutions ASA (OSL:AKVER) 14 November 2008 - Arkema and Aker Solutions have signed a Memorandum of Understanding for global cooperation on marketing of Arkema's proprietary PVC technology. Under the terms of this proposed cooperation, Arkema will provide its proprietary PVC technology and start-up technical services, whilst Aker Solutions will supply process design, engineering and construction services.
"This cooperation represents a genuine opportunity to develop our sales of PVC licenses in partnership with one of the world's leading engineering and construction groups," said Otto Takken, Executive Vice President of Arkema's Vinyl Products segment. "Aker Solutions has an excellent reputation as an engineering services provider and we are confident that, together, we can provide the best business solutions to our clients."
"The agreement represents a significant development in the Aker Solutions - Arkema relationship, and provides a strong platform for cooperation in marketing, bidding and executing selected projects in the future," said Johan Cnossen, President of Aker Solutions' process business.
Arkema's PVC technology boasts some unique advantages which make it one of the world's leading PVC technologies available for license.
Arkema's proprietary PVC technology is based on the company's long-standing know-how in PVC production, and guarantees a modern and competitive plant capable of producing all types of standard PVC grades with good quality consistency.
The terms of the cooperation agreement between Arkema and Aker Solutions include technical support to help potential licensees optimise Arkema's PVC technology.
Aker Process BV is the Aker Solutions' legal entity entering into the MoU with Arkema.
ENDS
For further information, please contact:
Arkema media relations: Jacques Badaroux, Tel: +33 1 49 00 71 34, E-mail: jacques.badaroux@arkema.com Aker Solutions media relations: UK: Vanessa Mourant, Communications Manager, Aker Solutions. Tel: +44 (0) 207 339 1064, Mob: +44 (0)7771 806566 The Netherlands: Johan Cnossen, Aker Solutions, Tel: +31 (0) 79 368 8555
Suppliers: For further information about sourcing and potential subcontracts for this project, please contact: Rodger Liang, VP Supply Management, Process & Construction, Aker Solutions, Tel: +86 10 640 966 36
Notes to editors: Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.
Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 26 000 people in about 30 countries. Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. Through its majority-owned holding company Aker Holding AS, Aker controls 40.27 percent of the shares in Aker Solutions, and takes an active role in the development of the company.
Aker Process BV is a wholly owned subsidiary of AKER SOLUTIONS ASA and the legal entity responsible for the execution of the work. Aker Solutions serves the chemicals and polymers, refining and onshore oil & gas industries. It provides the full life cycle of a project from concept studies, through to design, engineering, project management, delivery of process technologies, procurement, construction and maintenance services. As a pure project execution/EPC specialist, Aker Solutions can provide customers with strategic 'one-off' services or full turnkey solutions under a single project management control. It works with its customers in the development of major technological innovations, having participated in the conceptualisation and implementation of ideas, which are the foundation for world-class production facilities. Also offered are consultancy services in reliability, business modelling and environmental, health, safety and risk management.
A global chemical company and France's leading chemicals producer, Arkema consists of three strategically related businesses: Vinyl Products, Industrial Chemicals, and Performance Products. Arkema reported sales of 5.7 billion euros in 2007. Arkema has 15,200 employees in over 40 countries and six research centers located in France, the United States and Japan. With internationally recognized brands, Arkema holds leadership positions in its principal markets.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com
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