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Shipbuilding Norway

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BUSINESS
April 14, 1999 | Times Wire Services
Kvaerner, Europe's largest shipbuilder, said it is pulling out of the business as part of a restructuring because of weak demand and shrinking profit. The Norwegian conglomerate will sell or shut down its biggest shipyards--in Scotland, Russia and Norway--along with smaller operations, including the naval shipyard in Philadelphia. The company said it may spin off the shipbuilding unit or combine it with another shipbuilder into a joint venture.
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BUSINESS
April 14, 1999 | Times Wire Services
Kvaerner, Europe's largest shipbuilder, said it is pulling out of the business as part of a restructuring because of weak demand and shrinking profit. The Norwegian conglomerate will sell or shut down its biggest shipyards--in Scotland, Russia and Norway--along with smaller operations, including the naval shipyard in Philadelphia. The company said it may spin off the shipbuilding unit or combine it with another shipbuilder into a joint venture.
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