Aker Kvaerner Group

The Aker Kvaerner Group











The fight against bankruptcy


































Executive summery

During 1996, Kvaerner sought to strengthen its engineering base internationally through the acquisition of the UK-

based conglomerate, Trafalgar House. The acquisition was completed in May 1996. Kvaerner became an

international player in shipbuilding, oil and gas, pulp and paper and engineering and construction. It moved its

international headquarters to London in the spring of 1996.

In the following years, increasing financial and operational difficulties followed strong growth financed through

debt. The acquisitions had resulted in a broad business portfolio, without a corresponding management capacity. The

consequences were weak integration of the acquired units and no realization of synergies between the different

business areas.

In 1999 the company initiated a major sell-off, focusing on...