Kleven Design News

Aker Yards finalized the transaction with Kleven Maritime to acquire Kleven Florø AS and Kleven Design AS. Aker Yards has acquired Kleven Florø and Kleven Design at a price of approximately $9.7m including debt, and will compensate for working capital in excess of zero. In addition there will be further payments based on performance on existing order backlog and new orders in the coming three years. The order intake part of the payments is capped at $5.8m. The turnover of Kleven Florø and Kleven Design was $56.8m in 2005. The orderbook today consists of one juice tanker and two chemical tankers at a total value of approximately $211m.

Aker Yards signed an agreement with Kleven Maritime to acquire Kleven Florø AS, and Kleven Design AS. Both entities are located in Florø, Norway. The acquisition strengthens Aker Yards' Merchant Vessels Business Area by adding a product range of highly specialized chemical tankers, meeting customer demand and new regulatory requirements. The previously announced joint venture with Damen Shipyard Group in Ukraine creates an opportunity for Aker Yards to develop a new highly competitive line of chemical carriers in combination with Kleven tanker know-how. Aker Yards has agreed to acquire Kleven Florø and Kleven Design at a price of $9.5m including debt, based on a working capital of zero.