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AKER YARDS TO ESTABLISH A FOOTHOLD IN ASIA
11.1.2007

Aker Yards is taking a strategic position in the fast growing Asian market for offshore vessels by setting up a shipyard in Vietnam. The shipyard will be a joint venture between Aker Yards (70%) and Amanda Group (30%). The Amanda Group with headquarter in Singapore has extensive industrial experience in Vietnam.

The shipyard will be located in Vung Tau, centrally located in the heart of Vietnams growing offshore operations. The new yard in Vietnam will strengthen Aker Yards ability to serve its international customers in the region. Aker Yards will invest USD 16 mill over a period of three years. The yard will deliver the first vessel in 2009, and will in full operation have an annual capacity of 3-4 vessels, dependent of vessel type and size.
 
Vietnam offers a unique combination of cost efficient production, highly skilled workforce and proximity to the important and growing Asian offshore market.
 
An image will be available from www.akeryards.com.
 
 
For further information please contact:
 
Aker Yards
Roy Reite, President, Business Area Offshore & Specialized Vessels
phone +47 901 10 807
Tore Langballe, SVP Corporate Communications and Investor Relations
phone +24 13 01 30
 
Aker Yards ASA is an international shipbuilding group focusing on sophisticated vessels. The Group has a strong position in terms of innovation, product range, technology, experience, and capacity. The product range includes cruise ships & ferries, merchant vessels, and offshore & specialized vessels. Aker Yards comprises 17 yards in Brazil, Finland, France, Germany, Norway, Romania and Ukraine. Aker Yards has approximately 20,000 employees. www.akeryards.com
Aker Yards is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 50,000 employees and annual revenues of EUR 10 billion. Aker owns 50.4 percent of Aker Yards shares. The Aker Group is also a significant participant in the oil & gas business as well as the fisheries industry.
 

 
   
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