Aker, Kvaerner to collaborate on setting up Aker American Shipping UPDATE

Aker ASA said it and Kvaerner ASA have started to collaborate on setting up Aker American Shipping ASA, a company that will own Kvaerner’s shipyard in Philadelphia and 10 product tankers. Aker added that following the company’s creation it will consider buying Kvaerner out of the venture if a planned stock exchange listing of Aker American Shipping is successful. It will then include the company in the Aker group. Aker said it would buy out the shares at market price.