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Aker Solutions in October announced the agreement to buy the majority stake in C.S.E. The agreement includes an option for Aker Solutions to purchase the remaining 30 percent of the company three years from now.
The acquisition gives Aker Solutions access to Brazil's growing market for servicing existing oil and gas fields, building on a strategy to expand the company's services business in key international markets. C.S.E., which had revenue of BRL 322 million in 2015, provides maintenance, assembly, commissioning and crane operation services at offshore and onshore facilities.
Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 13,000 people in about 20 countries. Go to http://akersolutions.com for more information on our business, people and values.
This press release may include forward-looking information or statements and is subject to our disclaimer, see http://akersolutions.com