Aker Brattvaag Acquires Romanian Yard

Friday, April 07, 2000
Norway’s Aker Brattvaag AS, a unit of Aker RGI signed a contract with Romania's main privatization agency to acquire a majority stake in a local shipyard. A statement from the State Ownership Fund (FPS) said that under the contract, the FPS sold its 69.999 percent stake in Santierul Naval Tulcea in a deal worth some $22.6 million, including investments. Two-year investments, mainly in technology and environmental protection, represents some 60 percent of the value of the deal. Under the deal, Aker also assumes the shipyard's debts, mainly to banks and suppliers, of $12.1 million. Santierul Naval Tulcea, based in the Danube port town of Tulcea, has a share capital of $6 million. Shareholders include a local investment company with 23.743 percent and individual shareholders with 6.257 percent. Management holds 0.001 percent. Santierul Naval Tulcea builds barges and dredgers, tug boats, cargo vessels, refrigerating ships, chemical tanks and containers. Romania, which has already privatized three shipyards, plans to complete privatization of the shipbuilding sector this year with the sale of another three shipyards, including Black Sea-based Santierul Naval Constanta
Maritime Reporter February 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Imabari to Build 20,000TEU Containerships

Imabari Shipbuilding Co., Ltd. announced it has secured newbuild orders with the cooperation of Marubeni Corporation for 11 units of 20,000TEU Ultra-Large Container Carriers,

SSI Launches ShipConstructor 2015 R2.1

SSI has today released ShipConstructor 2015 R2.1 software.   The software release comes in response to emerging ship design, engineering and building trends as

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

Cruise Ship Trends

31st Edition of Cruise Shipping Miami

Cruise Shipping Miami 2015 is gearing up to offer the most comprehensive and robust roster of panel discussions featuring the industry's most knowledgeable and experienced executives.

Seabourn Names New Cruise Ships

Seabourn Encore and Seabourn Ovation will be the names of new ships joining the fleet of luxury cruise line Seabourn in late 2016 and spring 2018.  Both are part of the line's Odyssey class,

Disney's 'Frozen' Coming to the High Sea

Disney Ship is “Frozen” in Alaska. Nay...The ships are not really stuck — being “Frozen” is all about Disney’s blockbuster movie and it’s now spreading to the ships especially,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.1020 sec (10 req/sec)