Cargotec Takes Over Aker’s Mooring and Loading Systems Arm

Aker Solutions has completed the sale of its mooring and loading systems business to Cargotec for an enterprise value of NOK 1.4 billion circa (USD 160.5 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.

Aker Solutions, daughter company of Aker Solutions ASA, provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company brings together engineering and technologies for oil and gas drilling, field development and production.

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Press Release, January 30, 2014