Kvaerner Says
Although international engineering and industrial giant Kvaerner is anxious to divest itself of its shipbuilding operations, the company is refusing to sell shipyards simply for the sake of selling them, recently rejecting a bid for its Govan shipyard in Scotland. Kvaerner said a $1.57 million bid by General Electric Co. Plc's defense and shipbuilding unit Marconi Electronic Systems was disappointing and had to be rejected. Kvaerner, Europe's biggest shipbuilder, announced in April its planned withdrawal from shipbuilding and the loss of 25,000 jobs after posting its first losses in more than 30 years. Kvaerner has 13 shipyards spread through the U.S., Singapore, Russia, Norway, Finland and Germany
GEC Holds More Talks on Govan Shipyard
A unit of General Electric Co. Plc reportedly held a new round of talks aimed at buying Kvaerner's Govan shipyard in Glasgow, but no deal has yet been reached.
GEC Holds More Talks on Govan Shipyard
A unit of General Electric Co. Plc reportedly held a new round of talks aimed at buying Kvaerner's Govan shipyard in Glasgow, but no deal has yet been reached.
Kvaerner Govan Pact Reported Close
A deal to save the Kvaerner Govan shipyard in Glasgow is reportedly close to finalization, according to local newspaper reports. The rumored buyer is General Electric Co Plc .
