Aker in sales drive for expansion

Growth push: Aker Solutions' executive chairman Oyvind Eriksen

Berit Roald / Scanpix

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By Steve Marshall and news reports

 06 December 2012 14:24 GMT

Aker Solutions is looking at the sale of non-core assets as well as a possible stocklisting next year of its oilfield services unit as the Norwegian contractor revealed an ambitious goal to double its revenue over the next five years.

The company is already ahead of the curve in meeting its stated objective to double in size by 2015 and is now looking to further boost revenue and margins on the back of expected high contracting activity in deep-water plays in Brazil, West Africa and the Gulf of Mexico, as well as the Arctic.

Executive chairman Oyvind Eriksen said offshore spending is expected to increase at an annual rate of 10%, underpinning Aker’s ambition to double revenue to  around Nkr90 billion ($16 billion) by 2017 as well as boost its EBITDA margin…

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