Aker Yards and Damen finalizes agreement in Ukraine

Aker Yards and Damen Shipyards Group have finalized the process of establishing joint ownership of the Damen Shipyards Okean, as announced on June 2 2006. The plans involve increasing the output capacity of the yard to 60,000 tonnes per year, and will contribute to a strengthened shipbuilding capacity of Aker Yards.

The Okean yard will be able to build a variety of large merchant vessels, as well as steel sections for all the three business areas of Aker Yards. The construction of the Damen portfolio including the series of cargo vessels for the Ukrainian owners will be continued.