Kvaerner Agrees To Sell Govan Yard

Thursday, July 15, 1999

Kvaerner agreed the terms of its deal to sell the Govan shipyard in Scotland to GEC's defense unit, lifting the threat of major jobs losses there. Kvaerner said it had sold Govan to GEC's Marconi Electronic Systems Ltd, which is being taken over by British Aerospace Plc, for $3.52 million.

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