Aker Yards and ALSTOM announced on 4 January 2006 their intention to join forces in shipbuilding and create one of the world leaders in the industry, focused on high value added ships, including world class cruise ships. The transaction is expected to be final on May 31 2006.
A new company has been established to which Chantiers de l'Atlantique will transfer its employees, assets and cruise ships contracts. The legal name of the new company in France will be Aker Yards SA, and the names Aker Yards, France, Aker Yards, St. Nazaire and Aker Yards, Lorient will be used for branding, and communication purposes. A subsidiary of Aker Yards SA will be established to include the operations in Lorient. Simultaneously, the legal name of the operations in Finland will be changed from Aker Finnyards to Aker Yards Oy. For branding purposes, the names Aker Yards, Finland, Aker Yards, Turku, Aker Yards, Helsinki and Aker Yards, Rauma will be used.
Aker Yards will hold 75 percent of Aker Yards SA, and Alstom the remaining 25 percent.
Patrick Boissier, Chantiers de l'Atlantique chairman and CEO will be appointed non-executive director of Aker Yards SA, representing ALSTOM. Karl Erik Kjelstad, President & CEO of Aker Yards, will be Chairman of Aker Yards SA. Mr Jacques Hardelay will take over as Managing Director of Aker Yards SA from June 1st. Mr Hardelay is currently holding the position as Chief Operating Officer at Chantiers de l' Atlantique. Mr Hardelay will report to Mr Yrjö Julin, the President of Cruise & Ferries business area in Aker Yards.
In order to yield all possible synergies within the Cruises & Ferries business area, an integration office will be established in France, headed by SVP Bo-Erik Blomqvist. Mr Blomqvist will also be Deputy President for the Business Area Cruise & Ferries. The integration teams will jointly define and form the "new" business area Cruise & Ferries, now served by five yards in Finland and in France. Mr. Juha Heikinheimo, SVP Sales and Marketing will be heading the Cruise & Ferries business area sales and marketing from day one, combining the departments in France and Finland.
Karl Erik Kjelstad, President & CEO of Aker Yards, states in a comment "I am very pleased that we will have a strengthened team in place for our Cruise & Ferries business, where we ensure the continuation in management in both France and Finland. The team will together develop our activities in order to serve our customers even better."
Aker Yards ASA
Tore Langballe, SVP Communications and IR,
Tel. +47 24 130 130
Chantiers de l' Atlantique
Tel. +33 33 251 10 9037
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, with an annual turnover of euro 2 bn, comprises 13 yards in Norway, Finland, Germany, Romania and Brazil and has approximately 13,000 employees. www.akeryards.com
Aker Yards is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 40,000 employees and EUR 7.5 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.