New Directors Elected at Aker Maritime
Aker Maritime's corporate assembly has elected Bengt A Rem and Olav Revhaug as the new shareholder representatives on the board of Aker Maritime ASA. Aker Maritime's corporate assembly has elected new directors to take the place of Kjell Inge Røkke and Helge Lund who resigned as directors of Aker Maritime after being elected to the board of Kværner ASA. The election was in accordance with the election committee's recommendations. Bengt A Rem is executive vice president of Aker RGI with responsibility for finance and administration. RGI since 1995, he previously held positions at the Oslo Stock Exchange and Arthur Andersen & Co. He is a state-authorized accountant and a graduate of the Norwegian School of Management. Olav Revhaug is a director of Aker RGI.
Kvaerner and Aker Join Forces in Shipbuilding
Kvaerner announced that it has agreed with Aker RGI Holding to establish a jointly owned shipbuilding management company. Together, the two groups own 12 shipyards in Europe, and one in the USA and Brazil. These yards have a total of some 13,500 employees with combined revenues of $2.2 billion. Kvaerner and RGI have on a number of previous occasions stated the intention to merge their respective shipbuilding operations in the future. The parties have, however, agreed to postpone such negotiations until a better assessment of the financial and operational issues have been concluded, and until such time as the value of the operations can be more precisely determined. that the value of their respective operations will increase through the establishment of a joint management company.
