- 5 November 2007 -

Aker Kvaerner acquires drilling technology

Aker Kvaerner has signed an agreement to acquire 50% of the shares in the German company Wirth Maschinen- und Bohrgeräte-Fabrik GmbH with an option to buy the remaining shares within the next years.

Wirth is a supplier of drilling equipment such as mud pumps, drawworks and components for top drives. In addition the company provides tunnel and foundation boring machines for infrastructure projects and products for the mining and processing industries.

Wirth has been a key supplier for the Aker Kvaerner subsidiary Aker Kvaerner MH for more than 20 years and Wirth's products have been included in many of the complete drilling packages recently awarded to Aker Kvaerner MH.

"Wirth technology complements Aker Kvaerner's technology portfolio and enables us to offer our own complete drilling packages. It also provides an excellent foundation for further technology development," says Mads Andersen, executive vice president in Aker Kvaerner.

Andersen revealed to www.worldpumps.com that the company plans to develop more in this area. "We see several opportunities including mud pumps to a broader range of drilling rigs - from land rigs to the most advanced floaters," he said.

"Wirth GmbH completes our drilling equipment portfolio with high quality mud pump and drawwork technologies."

Wirth is a privately held company headquartered in Erkelenz, Germany , and currently employs 480 people. The company's revenue in 2006 was E140 million.

www.akerkvaerner.com

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