The Norwegian supplier of oilfield products, systems and services for customers in the oil and gas industry , Aker Solution plans to spend 60 million USD on a new factory for producing subsea umbilicals in Malaysia.
“The oil industry is growing, and tenders active retention remains high. We make these and several other investments to support our customers and to be fully prepared for the opportunities that come,” said Executive Chairman Oevind Eriksen in the announcement.
Aker Solution exceeded all analyst expectations, when they earlier this week published the result for the first half year. Earnings went up to 1.055 million Norwegian kroner from 312 million for the same period last year.
Aker Solution has offices in 30 countries including Malaysia, Singapore, Indonesia, Thailand and Vietnam.