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IMPLEMENTATION OF NEW BUSINESS MODEL
7.11.2006

Aker Yards announces today the implementation of a new business model to secure long term profitable growth at its Cruise & Ferries business area in Finland and in France

Six months after Chantiers de l'Atlantique was acquired by Aker Yards and integrated in its Cruise & Ferries business area, Aker Yards is now presenting the results of an in-depth analysis that will produce a smarter, more productive and innovative way of doing business and combining the best of the long traditions of Finnish and French shipbuilding.
The new Aker Yards, Cruise & Ferries will be a competitive and dynamic shipbuilder in Europe.
 
During the last 100 days, 300 people from Finland and France have reviewed and analysed two ways of shipbuilding in order to improve operations in both countires. During the same period, Aker Yards has been able to secure a record high order book for its Cruise & Ferries business area.
 
The results of this analysis are some 150 key initiatives which would require 3 years to be implemented, and after completion could generate cost improvements in the magnitude of 100 MEUR per annum. Focus on core competencies, sharing of best practicies and resources accross the organisation, new sourcing strategy and simplification of the organisation are the key words of the new strategy that will help Aker Yards to improve its competitive position. The 150 key initiatives have today been presented to the local management and employee representatives in both Finland and France.
 
These initiatives together with the record high order book will create some 260 new jobs at Aker Yards in Finland, which are expected to be secured during 2007.
 
In France, due to the adjusted business model and the increasing work load, it is estimated that some 2,000 new jobs will be created in the maritime cluster in the Saint Nazaire area. Out of these 2,000 new jobs 640 will be created at the shipyard itself, mainly for outfitting coordination and steel production positions. The company looks forward to work with the local region and community to stimulate the development of these new jobs.
 
The new business model also translates into some organisational changes in France, for which a dialog with the employees representatives have been started. Such discussions are expected to continue until the beginning of January 2007. It is estimated that some 240 employees (mainly white collars) will need to change jobs within the next three years. Aker Yards will provide training and support to accompany these people to change job.
 
The ca.EUR  5.5 billion orderbook of Aker Yards business area Cruise & Ferries consists of 18 newbuildings: The world`s three largest cruise vessels for Royal Caribbean, two new type big cruise vessels for NCL, four luxury cruise vessels for MSC Cruises, 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, a fast passenger/car ferry for Viking Line and a small ropax for Morbihan county. In addition, there are four options; with RCCL, MSC, NCL and Color Line.
 
 
For further information, please contact:
 
Aker Yards ASA
Tore Langballe, SVP Communications and IR, tel. +47 907 77841
 
Aker Yards, Cruise & Ferries
Sinikka Railo, Communications Manager / Finland  tel. +358 40 5120253
Marianne Minard, Communications Manager / France tel. +33 2 51 10 90 37
 
 
Aker Yards ASA is an international shipbuilding group focusing on sophisticated vessels. The group has a strong position both in terms of innovation, product range, technology, experience and capacity. The product range includes cruise vessels & ferries, merchant vessels, offshore & specialized vessels. Aker Yards comprises 17 yards in Brazil, Finland, France, Germany, Norway, Romania and Ukraine. Aker Yards has approximately 20,000 employees.
 
Aker Yards is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 50,000 employees and EUR 10 billion revenues. Aker owns 50.4 per cent of Aker Yards, and the group is also a significant participant in the oil & gas business as well as the fisheries industry.

 
   
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