01.11.2007

Odim to buy two specialist crane and lifting companies

Norwegian industrial holding group Aker ASA has announced its wholly-owned subsidiary Aker Capital has agreed to sell the companies ABAS Crane and Aker Brattvaag Winch to technology group Odim ASA. The combined price is NOK80 million (£7.29 million).

ABAS Crane, based in Aukra, Norway, develops and supplies specialised cranes and lifting gear for ships and offshore installations. The company has outsourced its production to subcontractors in the Czech Republic.

Aker Brattvaag Winch, based in Sovik, develops and supplies frequency-controlled AC-powered winches for trawlers, supply vessels, and several industrial applications. The manufacturing is handled by subcontractors in Romania.

Aker - based in Oslo, Norway - is an industrial holding company with some 50,000 employees worldwide, and with annual revenues of over NOK80 billion. The group's largest holdings include Aker Kvaerner, Aker Floating Production, Aker Drilling, Aker Exploration, Aker Oilfield Services, Aker American Shipping, Aker Seafoods, Aker BioMarine and Aker Material Handling.