Aker has appointed Helge Midttun as President and CEO of its Aker BioMarine subsidiary. Aker BioMarine specializes in harvesting and processing of fish and krill into valuable products for the aquaculture and food industries, and other industrial applications.

Helge Midttun possesses extensive industry experience from major aquaculture and food producers. He joins Aker BioMarine from his position as President and CEO of the listed seafood company Fjord Seafood. He also was employed by the Norwegian foods group Rieber & Søn, where he is now Board Chairman. Mr. Midttun has also served as President and CEO of Det norske Veritas.

”We are extremely satisfied to have Helge Midttun on our team. He possesses in-depth industry know-how and is skilled at running large, listed companies. These qualifications are important to us as we build up Aker BioMarine,” says Leif-Arne Langøy, Aker’s Board Chairman and President and CEO.

Aker BioMarine comprises Aker’s fisheries activities in the Faeroes Islands, off the coast of Argentina, and in Antarctic waters. The company has developed a unique harvesting technology for krill, which provides high-value products that are also well suited for pharmaceutical applications. Aker BioMarine is wholly owned by Aker; however, plans are to invite other investors to join as shareholders and to list the company.

Helge Midttun will assume his position at Aker BioMarine on 1 November 2006. His annual salary is NOK 2.5 million.

Midttun is a board member of Aker Kværner. Due to his appointment as Aker BioMarine President and CEO, he will resign his Aker Kværner board membership at the company’s next annual general meeting.