Kvaerner To Sell Shipyards, Maritime Unit

Monday, February 14, 2000
Kvaerner Plc has agreed to sell its maritime and technology unit Kvaerner Maritime for $15.9 million in cash. Separately, the group will also sell its Fjellstrand shipyards in Norway for $12.2 million to a consortium consisting of the management of Kvaerner Fjellstrand and other local investors. Kvaerner said it would sell Oslo-based Kvaerner Maritime to a consortium consisting of the management and staff of the company, and Reiten & Co. ASA. Reiten is a privately held financial house, based in Oslo, which invests in small technology businesses. The group said the sale of Kvaerner Maritime would not affect its accounts, though the sale of Kvaerner Fjellstrand would result in a small accounting loss. Kvaerner said it will try to find a buyer for the one remaining shipyard, owned by Kvaerner Fjellstrand in Singapore. The group is pulling out of the shipbuilding sector as part of a comprehensive restructuring plan.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Sales

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Algoma Central Orders New Great Lakes Ships

Algoma Central Corporation announces $160 million investment in fleet expansion and fleet renewal   Algoma Central Corporation announced that it has acquired

MISC Says AET Tankers Unit Not for Sale

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers.

Finance

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Venezuela Probes ex-minister accused of corruption in Ferry Deals

A former minister in President Nicolas Maduro's government denied in an interview published on Friday accusations of corruption during the purchase of three

 
 
Maritime Careers / Shipboard Positions Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0917 sec (11 req/sec)