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Kvaerner is to relocate its management from London to Oslo, following the recent reorganisation of its UK-based building and civil engineering operations.

Kvaerner is selling its building and civil engineering operations to Skanska of Sweden for £356m, and the deal will include about 5,000 employees in its UK construction business.

Kvaerner has acquired Whessoe International of Darlington, in order to offer total capability in the design and construction of liquid natural gas facilities.

Kvaerner has sold Cleveland Bridge, its Darlington-based bridge building business, to a management buy-out for about £8m.

Kvaerner is selling most of its UK metals manufacturing business to Union Electric Steel of the US for £15m, but will retain its Sheffield production facilities.

Kvaerner has sold Heavylift Group, the Essex-based cargo airline and aircraft maintenance group, to a management team for £15m.

Kvaerner's UK subsidiary has won a £100m contract to build a North Sea platform for Texaco, and up to 600 workers could be employed on the project.