Aker Yards Weigh STX Bid

Monday, August 11, 2008

Aker Yards shipbuilding said that a 1.3-billion-dollar bid by STX of South Korea underrated the company's potential, but advised shareholders to accept against a background of weak results, AFP reported.

The group reported a temporary slowdown of cruise-liner construction and downgraded its profit margins for the full year.

And it said that the takeover bid, worth 6.8 billion kroner (850 million euros), although undervaluing the group's potential, was worthy of serious consideration in the current climate.

The group reported a second-quarter net loss of 135 million kroner (16.9 million euros), its third quarterly loss running, from a profit of 200 million euros in the second quarter of last year.

But sales surged by 31.4 percent to 7.9 billion kroner, the company said.

The board advised shareholders to give serious consideration to accepting the STX bid.

Sourcce AFP

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SCI Publishes Shore Leave Survey

With Maritime Labor Convention (MLC), 2006 in force, one might expect to see a reduction in the number of seafarers without visas; yet, recent data collected by

Cummins Reports Revenue Jump in Q2 2014

Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013.

Diana Shipping Invests in Diana Containerships

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into an agreement to purchase

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1144 sec (9 req/sec)