Aker Solutions, Cargotec Complete Pusnes Transaction

Aker Solutions has completed the sale of its mooring and loading systems business to Cargotec for an enterprise value of NOK 1.4 billion ($ 288 million)

The unit, known for the Pusnes brand name, provides mooring equipment, loading and offloading systems, as well as deck machinery for the global offshore and shipping markets. Aker Solutions will book a gain of about NOK 1 billion in the first quarter of 2014 from the sale. The sale was announced on October 30, 2013.

The division employs about 370 people in Europe, Asia and the Americas and has its main office in Arendal, Norway.

Aker Solutions will use the cash to develop its main business in the deepwater and subsea oil-services segments.