Norway-based oil services firm Aker Solutions ASA (AKKVF.PK) on Monday said it has taken full ownership of Newfoundland and Labrador-based AKCS Offshore Partner. The financial details of the buy-out are undisclosed.
The company noted that AKCS Offshore Partner was a partnership formed by Aker Solutions, SNC-Lavalin and G.J Cahill & Co. in 2002 to pursue contracts for the Atlantic Canada oil and gas industry. The partnership has 48 employees, and has been offering maintenance, modifications and operations services.
Aker Solutions said all personnel currently employed by the partnership will be given the opportunity to pursue a career in the company.
Tore Sjursen, head of maintenance, modifications and operations in Aker Solutions, said, "The buy-out will support Aker Solutions' growth plans in North America and be the foundation for further expansion in St. John's and Atlantic Canada."
Erik Wiik, Aker Solutions' regional president for North America, added, "We will continue to deliver engineering services for maintenance and modification projects offshore Canada. Further, this move enables us to expand local project management capacity to support all Aker Solutions businesses in the region."
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