Kvaerner peers into highly uncertain market

The Norwegian subcontractor Kvaerner noted a decline in operations as well as orders in 2015, and both 2016 and 2017 look particularly uncertain, says the company. A solid cash balance will put the company in a better position than competitors, the company estimates.

Norwegian Kvaerner ASA ranks, along with Aker Solutions and a few others, among the strongest Norwegian subcontractors to the Norwegian offshore industry in a market, which is currently under a historical amount of pressure.

The company saw declines across the board in 2015 where revenue fell to about USD 1.4 billion down from USD 1.6 billion in the previous year, according to a financial statement from Kvaerner.

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