Shipbuilder plans to sell; yard at risk

Article Abstract:

Kvaerner Group, Europe's largest shipbuilder, announced yesterday that it will close or sell 13 shipbuilding operations. This plan means an uncertain future for the huge redevelopment project at the former Philadelphia Naval Shipyard. Kvaerner cites low profits as the reason for its worldwide closure of shipbuilding yards. Kjell Almskog, Kvaerner's CEO, reassured Philladelphia that the company remains "committed" to the local shipyard. He said that Kvaerner would make every effort to find a suitable buyer, so that the plans for the yard could continue. Local government officials could not hide their disappointment about this latest development. If it goes forward, the rebuilding of the shipyard will create more than 700 jobs initially and many more in the future. The state remains committed to the project despite Kvaerner's change in plans.

Comment:

Kvaerner Group, Europe's largest shipbuilder, announced yesterday that it will close or sell 13 shipbuilding operations.

Norway, Ship Building and Repairing, Shipbuilding & Repair, Kvaerner Group

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Kan. firm to acquire a local trucker

Article Abstract:

Jevic Transportation Inc., a New Jersey trucking company, has agreed to be acquired by Yellow Corp. of Kansas for $200 million. Jevic will be a stand-alone unit like Yellow's other regional carriers. Founder, Harry Mulschlegel will remain as Jevic's CEO and has reassured his truck drivers that nothing will change in the operation of the company.

Trucking, General Freight Trucking, New Jersey, Transportation, Transportation industry, YRC Worldwide Inc., Jevic Transportation Inc.

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Dynegy ends talks to acquire Enron

Article Abstract:

Dynegy Inc. scrapped plans recently to rescue troubled Enron Corp., leaving Enron with little alternative than to file for bankruptcy.

Natural Gas Processing, Natural Gas Liquid Extraction, Natural Gas Distribution, Natural gas liquids, Gas transmission and distribution, Gas Transmissn & Distributn, Gas industry, Enron Corp., ENE, Dynegy Inc., DYN

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