Kvaerner, officials in frank talk

Article Abstract:

A meeting between Pennsylvania officials and the head of the Kvaerner Group failed to provide new information about future ownership of the Philadelphia Naval Shipyard project. Nevertheless, officials felt that the conglomerate comprehends its legal obligations to the project, in light of Kvaerner's recent announcement that it intends to sell its unprofitable shipbuilding unit, said Paul Tufano, Gov. Ridge's chief counsel and chairman of the Philadelphia Shipyard Development Corp. Tufano feels that the conglomerate is working on solutions that would help the Philadelphia yard, as well as most of Kvaerner's other yards.

Comment:

PA: Meeting between officials & Kvaerner fails to offer new information about future ownership of Philadelphia Naval Shipyard

Acquisitions & mergers, Foreign operations, Norway, Kvaerner Group, Philadelphia Shipyard Development Corp.

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Launching its first ship-and industry's revival

Article Abstract:

The Kvaerner Philadelphia Shipyard will christen its first ship on July 12, 2003 and where many believes that this historic moment may well bring about a turnaround in the entire industry's turnaround. The ship, to be christened M.V. Manukai has cost more than 100 million US dollars and despite cost overruns, and all those associated with the project are thrilled to bits by their achievement.

Product development, Deep Sea Freight Transportation, Merchant Ships, Cargo & Tanker Vessels, Shipbuilding industry, Cargo ships

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Roekke's bid wins control of Kvaerner

Article Abstract:

Kvaerner Philadelphia Shipyard and its London-based parent company has been taken over by Kjell Inge Roekke, a norwegian entrepreneur.

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