Aker Yards Integration Process Moves into Implementation Phase

November 7, 2006

Aker Yards has announced its new business model for its shipyards in business area cruise & ferries. The new business model, presented today to the management and employee representatives, is the result of a 100 days integration process in which 12 task forces in France and Finland have analyzed the two ways of doing shipbuilding. Best practices, efficient organizations and fixed costs were reviewed and compared. This process resulted in about 150 initiatives to be implemented over the next three years worth in the magnitude of 100 million euro in savings, among which some 40 million for Finland. The five main initiatives are the focus on core competencies, improvement in sourcing through bigger volume, development of turnkey supplies, independence of sharable competencies and simplification / adaptation of the organization to the new business model. The management team consists of Jyrki Heinimaa, Tauno Kauppi, Marko Konu, Tapio Lehtinen, Tapani Pulli, Carl-Gustaf Rotkirch, Erik Skogström, Erkki Strengell and Jussi Voima (Sami Hautala after changeover). Tanja Sabell acts as secretary to the management team. Seppo Lauttamäki is in charge of the 1+1=3 development program in Finland, reporting (in this task) to Jyrki Heinimaa. The present ordebook of Cruise & Ferries business area consists of 18 ships, for a value of ca. $6.9b. The world`s three largest cruise vessels for Royal Caribbean, a cruise vessel and two fast day ferries for Color Line, a cruise ferry and a fast passenger ferry for Tallink, a ropax and a passenger ferry for Brittany Ferries and a fast passenger/car ferry for Viking will keep the shipyards in Finland very busy the next three years

Aker Yards Integration Process Moves into Implementation Phase

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