Aker Arctic Technology Inc. starts operations

14-January-05

Aker Yards Group´s strategy to seek growth in the business for Arctic technology has taken a step forward. At the year’s end a new entity, Aker Arctic Technology Inc. (AARC), was registered in Finland and the new company started operations on January 1, 2005.

As a subsidiary to the new Aker Finnyards, AARC will not only continue the activity of the former Masa-Yards´ Arctic Technology Centre (MARC), but will also start offering its own portfolio of conceptual ship designs for various yards, ship owners and offshore operators interested in operations in ice-infested cold waters. During 2005 the new company will erect a modern new office and ice model test facility in the Vuosaari district of Helsinki, where along the new port development a marine business park will be created.

“This represents a new and important step in our continuous endeavour to master the challenging arctic environment and will contribute to consolidate our position as the world leader in arctic designs”, states Mr Oddvar Slettevold, Executive Vice President, Projects & Technology, Aker Yards ASA.

Due to the attractive market and growth potential in arctic shipbuilding, ABB, Wärtsilä Corporation and Aker Kvaerner Engineering and Technology AS of Norway have taken a 12.5 per cent stake each in the new entity. These partners will through their expertise actively contribute to the technology developed by AARC, which will lead to enhanced overall performance of ice going vessels.

The Arctic Technology Centre was originally established in 1969 for the “Manhattan” project, targeted for test voyages of a 100,000 tdw tanker for the Prudhoe Bay oil export. The centre has been operating its own ice model basin for 35 years. The current laboratory was the biggest in the world when completed in 1983. Now an ice laboratory of third generation will be introduced.

Aker Arctic Technology and its predecessors have been involved in projects in all freezing water areas on the globe. The accumulated knowledge of the problems and the technologies has made AARC capable of creating innovative solutions for operation suffering from the presence of ice. The most advanced ship designs of the industry today, like the double acting tanker, the double acting icebreaker-supply vessel, and the oblique icebreaker, originate from AARC.

Mr. Mikko Niini has been appointed Managing Director. He has a long experience in the market segment with previous positions as Vice President, Marketing and Sales of Kvaerner Masa-Yards, Wärtsilä Marine and Valmet Corporation since 1981.
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For more information, please contact:
Mikko Niini, Managing Director Aker Arctic Technology,
tel. +358 400 322 747 or +358 10 670 2499