Aker Yards could withdraw from Romania

The sale is likely since Aker Yards’ new majority shareholder, Korean group STX Shipbuilding, is mainly focused on building cruise and transportation ships and ferries.

Aker Tulcea’s General Manager, Dumitru Ivanov, said the sale is likely to happen in 2008. “The decision will be made this year by the Norwegian management. The possible sale of Aker Yards’ division will have no impact on us,” he said.

STX Shipbuilding became main shareholder of Aker Yards last year and launched a rebranding process for the Norwegian group, including changing the name of the company and shipyards it controls. The Tulcea and Braila shipyards could also be rebranded, if they are to remain within the Aker group.

Aker Tulcea posted losses worth €210,000 in the first nine months of 2007, while the losses of Aker Braila amounted to €4 mln.

For the first three quarters of 2007, Aker Yards posted profits worth €51 mln, lower compared to the €82.2 mln registered in 2006. The group has 20,000 employees working in 18 shipyards in Norway, Finland, Ukraine, Germany, France, Romania, Brazil, and Vietnam.