Kvaerner will scale down to regain profitability

Article Abstract:

Kvaerner ASA has announced plans to scale down its operations in an attempt to recapture its profitability. Kvaerner is a engineering and shipbuilding group. The Anglo-Norwegian company is also the largest shipbuilder in Europe. Kvaerner will depart from the shipbuilding business by selling, merging, or spinning off its shipyards. The firm will reduce its labor force by 25,000 workers as a result of its departure from the shipbuilding industry.

Comment:

Plans to scale down operations to recapture profitability

Abstract

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Kvaerner considers proposals to stave off bankruptcy

Article Abstract:

Kvaerner ASA is studying several plans to prevent a declaration of bankruptcy. The company however, is expected to implement either a restructuring or a divestment of some assets.

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Kvaerner plans to resume talks with creditors, shareholders

Article Abstract:

Kvaerner ASA will continue negotiations with major creditors and stockholders on the company's financial outlook. Investors are hoping for the creation of a rescue plan.

Finance

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