Joint holding company Kværner Industries AS was established in December 1967, listing on the Oslo Stock Exchange.

In 1993, construction work began at the Guantanamo Bay detention camp through jointly owned subsidiary, Kværner Process Services Inc. (KPSI), initiating a business partnership with the US Department of Defense that lasted until 2006.

[4] In 1996, Kværner acquired UK-based conglomerate Trafalgar House, increasing its interests in shipbuilding, oil and gas, pulp and paper, engineering and construction.

Aker Kvaerner started trading on the Oslo Stock Exchange under the ticker symbol 'AKVER' on 2 April 2004.

[3][8] In 2007, the company was identified by Amnesty International as an accessory to torture and other human rights abuses for its collaboration in constructing and maintaining the US detention camp at Guantanamo Bay.

Between April 2010 and June 2010, the company won three contracts from Noble Energy to supply steel tube umbilicals, a complete mono-ethylene glycol (MEG) reclamation unit, and subsea control equipment for the construction of offshore oil platforms in the Tamar gas field in Israel.

[9] On 6 May 2011, Aker Solutions' EPC (engineering, procurement and construction) division was re-branded and spun off as a new company, Kværner ASA, listed on the Oslo Stock Exchange in the third-quarter of 2011.

[10] On 18 February 2015, the company announced the loss of around 300 jobs in Norway as a response to falling oil prices and the decline in demand for drilling services.