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Tees HQ for giant engineering firm.

Stockton has been chosen as the new European headquarters for the Aker Kvaerner Engineering Services business.

But the news has prompted mixed fortunes on the job front. The engineering giant has designs to create more than 100 new jobs and double its business in the next two-and-a-half years. But 70 posts, where there is duplication, are now at risk of redundancy on the back of the re-organisation of the business.

The division - created from the group's engineering and construction, energy and environment and modifications, maintenance and operations businesses - has almost 1,500 workers on its books on Teesside and 2,300 across the group. Those numbers are expected to be boosted by 700 by 2005 and around 140 of these will be based locally.

Malcolm Oliver, managing director of A K Engineering Services, said the business hoped to double its current turnover of pounds 160m.

The new headquarters is responsible for providing engineering services to a number of sectors including petrochemicals, pharmaceuticals, nuclear and manufacturing.

The news marks more progress in the company's reversal in fortunes.

Not so long ago the industrial giant was on the brink of financial ruin but it was saved by a merger with its Norwegian rival Aker Maritime.

The Stockton nerve centre is based at Ashmore House, Richardson Road.

The site will also house the division's shared services division - taking in operations such as administration, finance and information technology.

The A K Engineering Services provides a complete "cradle-to-grave" service for industry - from design and construction of a plant to maintenance and updating through to dismantling of a plant.
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Title Annotation:Business
Publication:Evening Gazette (Middlesbrough, England)
Date:Jun 17, 2003
Words:263
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