Study shows Statoil Hydro merger was smart move

Three year research project highlights merger issues. Statoil claims M&A competitive advantage.

A three year study of the social and organizational impact of the Statoil-Hydro merger has come to the conclusion that this has been ‘efficient’ is now ‘seen by most as a success.’ The study, conducted by a team from three Norwegian institutes, noted that the merger ‘has not gone completely without a hitch.’ A partnership model involved employees and trade unions in the decision making processes.

Project Leader Helene Loe Coleman from the Institute of Labor and Social Research (FAFO) said, ‘The new operational model was controversial and things did not go as planned.’ Unions tried to secure employee positions. Statoil countered with a strategy that avoided lay offs and compulsory redundancies.’

Statoil Business Director, Tor Egil Sunderø added, ‘The merger gave us a unique opportunity to gather new knowledge which has been used in the implementation of the Statoil 2011 program and in aspects of our improvement process.’

Sunderø believes that Statoil has now acquired a competitive advantage in the mergers and acquisitions arena. The team now plans to publish its findings in a book. More from

Click here to comment on this article

Click here to view this article in context on a desktop

© Oil IT Journal - all rights reserved.