Aker Solutions and Kvaerner have completed their merger.
The new entity will supply equipment and systems for offshore renewables production facilities and solutions to reduce greenhouse gas emissions from oil and gas installations.
From 11 November Aker Solutions shares will be traded after completing the merger with Kvaerner.
The combined company had about NOK38bn (€3.5bn) in pro forma revenues in 2019 and will employ approximately 15,000 employees in more than 20 countries.
Going forward, the joint venture will present its financial results, both consolidated and for the reporting segments in renewables and field development, electrification, maintenance and modifications and also subsea.
Aker Solutions CEO Kjetel Digre said: “We see that our ability to deliver predictably with respect to quality, schedule and costs is equally important for low carbon projects and renewable energy developments.
“Over the past few years, we have started to build up our business in these segments, and we will continue to grow this activity further in the new organisation.
“Our strategy as a supplier is to enable our customers and the society to accelerate the transition to sustainable energy production.”