News - 29.11.2010

Strategic alternatives being considered for Aibel

Herkules in co-operation with Ferd is evaluating strategic alternatives that can strengthen the platform for further growth of Aibel. Additional information is found in the press release below published by the company earlier today:


Owners of Aibel consider a stock exchange listing for the company

Stavanger, Norway, 29 November 2010: The owners of Aibel would like to look at strategic alternatives that can strengthen the platform for further growth of the company. Therefore, preparations for a possible stock exchange listing of Aibel will be initiated.

Ferd and Herkules Capital became owners of Aibel in August 2007. The company has developed very positively and has achieved good results in recent years.

Total operating revenues for 2010 is expected to be around NOK 7 billion. Aibel has a solid order backlog and is among the leaders in its industry. In addition to Norway, Aibel has operations in Thailand, Singapore, Britain, Denmark and Egypt.

Market growth is expected to be strong in the coming years and Aibel is well positioned. The company has hired 400 new employees in 2010 and plans to hire over 1000 more during the next three years.

Aibel is a leading service company within the oil and gas industry and is established in renewable energy. 

The company’s over 4000 employees in Norway and abroad are engaged onshore and offshore. With 8 locations in Norway, the company is located near the customers. In addition to operations in Norway, Aibel is also located in Thailand, Singapore, United Kingdom, Denmark and Egypt.

For more information, please contact:
Idar Eikrem
Chief Financial Officer
Aibel AS
Mob: +47 95 028 363

Bjørg Sandal
SVP Communications
Aibel AS
Mobile: +47 488 68 726