Akastor ASA: Investor presentation on joint venture involving MHWirth

On March 2, 2021, Baker Hughes and Akastor ASA announced a joint venture combining Baker Hughes' Subsea Drilling Systems with Akastor's MHWirth AS.

Rhea-AI Summary

On March 2, 2021, Baker Hughes and Akastor ASA announced a joint venture combining Baker Hughes' Subsea Drilling Systems with Akastor's MHWirth AS. This strategic move aims to enhance operational efficiencies and expand market reach in the subsea drilling sector. An investor conference is scheduled for the same day at 14:00 CET to discuss details further. The venture is expected to leverage combined technological strengths and resources, signaling a proactive step towards growth in a competitive market.

Positive

• Strategic joint venture may enhance market share in subsea drilling.
• Combining Baker Hughes' expertise with MHWirth's capabilities could improve operational efficiencies.

Negative

• None.

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OSLO, Norway, March 2, 2021 /PRNewswire/ -- Reference is made to the stock exchange release from earlier today whereby Baker Hughes (NYSE:BKR) and Akastor ASA (Oslo:AKAST) announced an agreement to create a joint venture that will bring together Baker Hughes' Subsea Drilling Systems business with Akastor's wholly owned subsidiary, MHWirth AS. Attached hereto is the presentation to be used in the investor conference to be held as a webcast only on Tuesday March 2, 2021 at 14:00 CET (link to webcast below).

Live webcast and replay link:

https://channel.royalcast.com/landingpage/hegnarmedia/20210302_2/

For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
Oyvind.paaske@akastor.com

This information was brought to you by Cision http://news.cision.com

The following files are available for download:

https://mb.cision.com/Public/18618/3298291/b763d289d29216c1.pdf

Akastor Investor conference presentation 2 March 2021

 

View original content:http://www.prnewswire.com/news-releases/akastor-asa-investor-presentation-on-joint-venture-involving-mhwirth-301238320.html

SOURCE Akastor ASA

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the joint venture between Baker Hughes and Akastor ASA?

The joint venture merges Baker Hughes' Subsea Drilling Systems with Akastor's MHWirth AS to enhance market reach and operational efficiencies.

When is the investor conference for the joint venture announcement?

The investor conference is scheduled for March 2, 2021, at 14:00 CET.

What are the implications of the Baker Hughes and Akastor ASA joint venture for stock symbol AKKVF?

The joint venture may positively impact AKKVF by enhancing market competitiveness and operational efficiency.

How will the joint venture benefit Akastor ASA (AKKVF)?

The joint venture is expected to provide Akastor ASA with improved access to technology and market opportunities in the subsea drilling sector.

Where can I find more information about the joint venture between Akastor ASA and Baker Hughes?

Further information can be found in the press release available on PR Newswire and during the investor conference.