Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The oil service company Kaefer Energy in Stavanger, Norway, announced that the company will create 150 new jobs by the end of 2018. The company operates within ISO services (insulation, scaffolding and surface treatment). The new jobs are due to several new contracts won by the company. For instance, in May 2018, the company entered the 'Asset Integrity Alliance' with Aker BP, Prezioso Linjebygg and Force Technology that will maintain installations for Aker BP; the contract will run until 2025. Another important contract newly acquired is with Equinor, on the oil field Johan Sverdrup.
After having experienced an economic downturn from 2014 to 2016, Kaefer Energy is now experiencing an economic upturn. In 2017, the turnover was NOK 1200 million (about €126 million), compared to NOK 800 million (about €84 million) in 2015 and 2016.
Eurofound (2018), Kaefer Energy, Business expansion in Norway, factsheet number 94458, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94458.