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NEGOTIATIONS AT HELSINKI YARD ENDED
24.10.2005

Aker Yards informed in August of its plans to focus on the assembly and outfitting of ferries at the yard in Helsinki, and to start negotiations with the employee representatives as to the execution of the changes. The negotiations have now been carried out.

Taking the measures tend to assure the Helsinki yard a position as a cost effective shipbuilding place. Helsinki has become too small to meet the demand for today's ever growing cruise ship sizes, and expansion of the dry dock is not possible, given the location in the yard in the middle of the city of Helsinki.
 
The changes to be executed as the result of the negotiations involve downsizing the personnel with 85 blue collars and 80 white collars. It is anticipated that approximately half of these will be re-employed elsewhere in Aker Yards or within the Finnish marine cluster. There will also be retirement arrangements.
 
The aim is to have all the steps taken before the end of the year.
 
Aker Yards' three Finnish yards in Helsinki, Rauma and Turku, employing some 4,000 people, have since the beginning of 2005 been operating as one company and one organization, where both work and people have been flexibly shared between the three sites. Investments have been made in a new block factory in Turku, where recruitment of skilled platers and welders is going on.
 
For further information, please contact:
 
Aker Yards
Tore Langballe,
SVP Communications and IR,
tel. +47 90 777 841
 
Aker Finnyards
Yrjö Julin,
President,
tel +358 40 751 7940
 
Aker Yards is an international shipbuilding group focusing on sophisticated vessels and is one of the world's largest shipbuilders. The product range includes cruise vessels & ferries, merchant vessels, offshore & specialized vessels. Aker Yards, with a turnover in the range of euro 1.5-2 bn per year, comprises 13 yards in Norway, Finland, Germany, Romania and Brazil and has approximately 13,000 employees. www.akeryards.com
 
Aker Finnyards is amongst world leading designers and builders of cruise vessels and ferries as well as other technically advanced vessels. The three yards are situated in Helsinki, Rauma and Turku. www.akerfinnyards.com

 
   
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