Kvaerner Brug was founded in Oslo in 1853. Kvaerner Brug began cooperating with Myrens Verksted in 1922, when the two companies divided the hydropower and the pulping product areas between them. Kvaerner Brug concentrated on hydropower, while Myrens Verksted became the Norwegian partner in Kamyr, a Norwegian Swedish Finnish joint venture that was the predecessor of the present day pulp and paper activities of the Group.