Kvaerner Says Shipyard Sale Plans Are 'Well Advanced'

Thursday, December 30, 1999
Kvaerner ASA officials reported that talks on the sale of most of its shipyards were "well advanced," even though the group will not reach its goal of exiting shipbuilding in 1999. Kvaerner has been trying to sell four of its 13 yards - Mandal, Kleven and Leirvik in Norway and Govan in Scotland - since April, when it set a target of selling all its yards in 1999 as part of a sweeping restructuring. Officials said the group now hopes to have the sales finalized in early 2000.

Shipbuilding

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Michelle Obama Sponsors Attack Submarine

General Dynamics Electric Boat has delivered to the U.S. Navy an attack submarine that is sponsored by first lady Michelle Obama and will be named for her home state, reports AP.

Croatia’s Jadrolinija to Buy New Passenger Ship

Croatia’s  largest national passenger shipping company Jadrolinija plans to expand its fleet with a new passenger ship, with the total cost of about 50 million euros, reports Poslovni.

 
 
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