The companies brought together to create Kvaerner were established in the first half of the 19th century, during the Industrial Revolution.
These companies delivered products such as steam engines for rail and marine use and a range of industrial ironworks.
Over the next 100 years, the businesses grew significantly. In the mid1900s, both Kvaerner and Aker were international corporations with activities in shipbuilding, hydro power, wood processing and other process operations, mechanical workshops and other industries. Through the 1970s, 80s and 90s, they developed their capabilities and experience as suppliers of complete solutions to offshore and onshore oil and gas and processing projects. They each grew – organically and through international acquisitions – to be leaders in their markets.
In March 2002, the former Kvaerner group and the Aker Maritime group (comprising the oil and gas activities of the wider Aker group) were merged, and started to operate as one company under the name Kvaerner. In 2004, following a restructuring of both Aker and Kvaerner, Aker Kvaerner was established and the parent company of this group – Aker Kvaerner – was listed on the Oslo Stock Exchange. Four years later, Aker Kvaerner changed its name to Aker Solutions.
In December 2010, Aker Solutions announced a decision to cultivate its core businesses. Kvaerner was established, through a demerger, as a specialised EPC (engineering, procurement and construction) company addressing the global market.
On 6 May 2011, the shareholders’ annual general meeting approved the establishing of Kvaerner as a separate company.
You can view a video of our history here:
You can also see our history on our “timeline” on Facebook: www.facebook.com/kvaernerasa .
You can watch a video about the history of our facilities at Stord on our YouTube channel.