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Aker Solutions buys LMV

Aker Solutions is acquiring LMV.

16 May 2012

Aker Solutions is using business negotiations to expand through a series of acquisitions.

The firm has revealed it is in the process of buying mechanical workshop enterprise Lyngdal Mek Verksted (LMV), following the recently-completed takeover of assembly and test firm Herman Hansen Mek Verksted in March 2012.

Aker Solutions claimed the market outlook for the drilling equipment sector is positive, including new-build orders and the overhauling of installed devices.

Furthermore, it has delivered tools to rigs during a boom period in 2007 and 2008, with these items soon up for a reclassification after five years' of operations.

Recently, it revealed it is to boost the size of its Aberdeen workforce by 500, taking the number of people it employs in this region to 3,200.

"The takeover of Lyngdal Mek Verksted is the latest example of our strategic moves to boost our capacity to serve drilling customers in the North Sea market," head of the drilling technologies business for Aker Solutions Thor Arne Haverstad said.

Posted by Ron Maverick

Source: Aker Solutions press release, May 16th

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