OSLO, April 30 Norwegian engineering firm Aker
Solutions will split into two companies to reduce
costs and boost competitiveness, the firm said on Wednesday.
The Subsea, Umbilicals, Engineering and Maintenance,
Modifications and Operations (MMO) divisions will keep the Aker
Solutions name. The other divisions, Drilling Technologies, Aker
Oilfield Services and Process Systems, will be grouped together
under a new oil-services investment company, named Akastor.
Both firms, which will be split around the end of September,
will be listed on the Oslo bourse. The Norwegian state a major
owner said in a separate statement it approved the move.
(Reporting by Gwladys Fouche; Editing by Balazs Koranyi)