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Aker Verdal as

Aker Verdal as. The turnaround in 2000 23.09.2009 Former President Bjørnar Skjevik. Presentation. Brief orientation of Aker Verdal What caused the crises in 1999/2000 How we mobilized to handle the situation. The achievement from the turnaround The successcriteria. Presentation.

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Aker Verdal as

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  1. Aker Verdal as The turnaround in 2000 23.09.2009 Former President Bjørnar Skjevik

  2. Presentation • Brief orientation of Aker Verdal • What caused the crises in 1999/2000 • How we mobilized to handle the situation. • The achievement from the turnaround • The successcriteria

  3. Presentation • Brief orientation of Aker Verdal • What caused the crises in 1999/2000 • How we mobilized to handle the situation. • The achivement from the turnaround • The successcriteria

  4. 1971

  5. 1975 Aker H3

  6. Verdal IndustrielEstate 2002 Present

  7. Steel structure to support toppside facilities Non domestic Competitors !! Jacket

  8. Toppside facilities Domestic competition !!

  9. Hull for floating plattforms

  10. Jacket as the only product • Efficient • Vulnerable !!

  11. 40.1 % 39.9 % 75.3 %1 Aker Kværner Aker Drilling AkerCapital AkerBioMarine 75 % 50.1 % 49 % 53.2 % Aker OilfieldServices Aker FloatingProduction AkerExploration Aker MaterialHandling Aker AmericanShipping Revenues exceeding NOK 80 billionApprox 35.000 employees Controls companies with combined market cap of ca NOK 65 billion 64.95 % 100 % AkerSeafoods 100 % Aker holding shown (in %) as of 30 March1 72.5 % after the merger with Natural

  12. Exploration & drilling Concept screening & selection FEED EPC Inst. Operation Maint. Mod. Maint. Rem- oval Utilizing Aker Kvaerner Experience Onshore Production & Processing Mooring & Transfer Systems Concrete Solutions for Harsh Environments Land Terminals Floating LNG & Methanol Tentech & Masa FPSOs Drilling Systems LNG Receiving Terminals Deep Draft Semisubmersible Tension Leg Platform Topsides & Modules Flowlines & Flow Assurance Installation & Removal (Floatover) Riser & Tether Technologies Jacket Technology P-Series Semisubmersible Subsea Technologies Reservoir Modelling & Interpretation Downhole Technologies Umbilical & Flowline Technologies

  13. Presentation • Brief orientation of Aker Verdal • What caused the crises in 1999/2000 • How we mobilized to handle the situation. • The achivement from the turnaround • The successcriteria

  14. In the late 90`s • Oil price dropped to 10-20 $ a barrel • Oil companies put investmenplans on hold • Excess capasity in the industry • Shut downs – lay off more than likely Immediateactionsrequired !

  15. The reality for Aker Verdal ! • Two Years before new potential contracts • Most off the workforce will be redundant • Individuals on the national scene : ”Shut down Aker Verdal ”

  16. The options : • Accept shutdown • Fight ”as is” • Go for a turnaround

  17. Presentation • Brief orientation of Aker Verdal • What caused the crises in 1999/2000 • How we mobilized to handle the situation. • The achivement from the turnaround • The successcriteria

  18. Mobilizing for thefuture Management and the unions : • We agreed to act fast • We agreed to exit the multidisciple marked • We agreed to seek new development

  19. Lay off : 400 employees For rental

  20. Mobilizing • The owner • Own employees • Public authorities

  21. Way forward • Seek funding for the training program • Downsizing – lay off • De - merging into 6 companies • Establish - new development/innovation

  22. Verdal Videregående Skole Extensivetraining- Knowledge & skills Partnership !!

  23. Verdal Videregående Skole Aker Verdal AS Training-program

  24. New development Aker Verdal IndPro INDUSTRI INKUBATOR • Downsizing • Layoff / hire out • Demerging • New contracts • Training-program • Make fabrication facilities and • infrastructure available • External relations • Spin-offs • New companies

  25. Developmenttools

  26. Presentation • Brief orientation of Aker Verdal • What caused the crises in 1999/2000 • How we mobilized to handle the situation. • The achivement from the turnaround • The successcriteria

  27. Valhall jacket

  28. -noen nye utviklingsorienterte bedrifter

  29. Verdal Industripark 40 -50 new establishments Verdal Industripark ca 130 companies ca 2500 employees Annual turnover 5 bill. NOK

  30. More robust community Not dependent on one big player

  31. Presentation • Brief orientation of Aker Verdal • What caused the crises in 1999/2000 • How we mobilized to handle the situation. • The achivement from the turnaround • The successcriteria

  32. Whysuccess ? • Acknowledge realities • Acting fast • Support from the Labour Union • Support from local/regional authorities • 6 millions Euro in public benefit • Focus on new possibilities • Hard work & staying power

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