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

People & Company News

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to

Thrustmaster Announces Factory Expansion

Thrustmaster of Texas, a manufacturer of commercial marine propulsion products, signed a deal last week to expand its Houston-based production facility by 100,000 sqft (93,000 sq m).

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators 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: 0.1279 sec (8 req/sec)