Nordic Business Report-June 1, 2006-Aker Yards ASA and ALSTOM Marine set up new company
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The Norwegian shipbuilding group Aker Yards ASA said on Thursday (1 June) that Aker Yards and ALSTOM Marine had signed a contract to join forces in shipbuilding.
The joint operation would include the establishment of a new company consisting of ALSTOM's shipyards in Saint-Nazaire and Lorient.
In connection with the closing of the transaction the new company, Aker Yards SA, has received a committed offer of EUR550m in construction financing to finish its current backlog of cruise ships.
Aker Yards owns 75% of Aker Yards SA, and ALSTOM the remaining 25% until 2010.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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