Aker Solutions to Merge with Kvaerner, Names New CEO

Norwegian oil service providers Aker Solutions and Kvaerner, both controlled by Norwegian billionaire Kjell Inge Roekke, will merge to strengthen their base in the global energy industry, both companies said on Friday.

Aker Solutions, which provides engineering services, and Kvaerner, which builds oil platforms, were hit when energy firms slashed spending as crude demand plunged due to the coronavirus crisis.

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