1. The turnaround in 2000 Aker Verdal as 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
21-Sep-18

5. 1975
Aker H3
21-Sep-18

6. Verdal Industriel Estate
2002
Present

7. Steel structure to support toppside facilities
Non domestic
Competitors !!
Jacket
21-Sep-18

8. Toppside facilities
Domestic
competition !!

9. Hull for floating plattforms
21-Sep-18

10. Jacket as the only product
Efficient
Vulnerable !!

11. Aker Kværner Aker Drilling
Revenues exceeding NOK 80 billion Approx employees
Controls companies with combined market cap of ca NOK 65 billion
Aker Kværner
40.1 %
Aker Drilling
39.9 %
100 %
64.95 %
Aker Capital
Aker Seafoods
Aker Oilfield Services
75 %
Aker Floating Production
50.1 %
Aker Exploration
49 %
100 %
Aker BioMarine
75.3 %1
Aker American Shipping
53.2 %
Aker Material Handling
Aker holding shown (in %) as of 30 March % after the merger with Natural

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

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. Immediate actions required !
In the late 90`s
Oil price dropped to $ a barrel
Oil companies put investmenplans on hold
Excess capasity in the industry
Shut downs – lay off more than likely
Immediate actions required !
21-Sep-18

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. 21-Sep-18

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

18. 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

19. Mobilizing for the future
Management and the unions :
We agreed to act fast
We agreed to exit the multidisciple marked
We agreed to seek new development
21-Sep-18

20. Lay off : 400 employees
Denne foilen vises ikke på møtet.
For rental

21. Mobilizing
The owner
Own employees
Public authorities

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

23. Verdal Videregående Skole
Extensive training-
Knowledge & skills
Verdal Videregående Skole
Partnership !!

24. Verdal Videregående Skole
Training-program
Verdal Videregående Skole
Aker Verdal AS

25. New development INDUSTRI INKUBATOR Aker Verdal IndPro Downsizing
Layoff / hire out
Demerging
New contracts
Training-program
Make fabrication facilities and
infrastructure available
External relations
Spin-offs
New companies
21-Sep-18

26. Development tools

27. 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

28. Valhall jacket

29. -noen nye utviklingsorienterte bedrifter

30. Verdal Industripark 40 -50 new establishments Verdal Industripark
ca 130 companies
ca 2500 employees
Annual turnover 5 bill. NOK
21-Sep-18

31. More robust community Not dependent on one big player
Denne foilen vises ikke på møtet.

32. 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

33. Why success ? 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