Kværner seeks global partner

Kværner chief Kjell Almskog said he is looking around the world for a large merger partner that will lift Kværner's oil services division into the global top ranks. He said a proposed merger between Kværner and its Norwegian rival, Aker Maritime, was a dead "end". Mr. Almskog acknowledged that consolidating the two North Sea suppliers might save money by eliminating excess local capacity, but said his vision is to throw in with a global powerhouse such as Halliburton, ABB or Coflexip Stena.