Norwegian Akastor ASA, which is controlled by billionaire Kjell Inge Røkke (photo) and where the state of Norway is a major shareholder, noted a big blow with a further deterioration of the conditions in the offshore sector in the fourth quarter 2015, which was a year in which especially MHWirth (Drilling technology etc. ed.) took a massive hit.
Akastor, which owns a portfolio of companies in the service industry, exited 2015 with a total revenue of USD 1.8 billion down from USD 2.4 billion in 2014, while the operating result (EBITDA) came to USD 81 million, compared to USD 150 million in the previous year, according to Akastor's annual report released Wednesday.
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