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Marine Log

January 22, 2008

Hanjin buys Aveva for Subic

Korea's Hanjin Heavy Industries & Construction-Tech, Inc. has signed a multi-million dollar agreement with IT specialist Aveva (LSE:AVV) to equip its Subic Bay shipyard in the Philippines with Aveva Marine solutions and Aveva NET.

Aveva Marine combines the industry-standard Tribon range and Aveva's unique object-based technologies to form what Aveva calls the "ultimate set of marine design and engineering tools." Combining these proven capabilities and adding numerous productivity-enhancing new features, Aveva Marine offers risk-free business advantage in a competitive industry. Aveva NET is an open PLM solution that enables the various information networks in a project (people, tasks, plans, drawings, models, documents and materials) to be linked together to provide a single structured view of all the engineering information in context. It then allows this information to be shared, exploited and managed, collaboratively, across the globe.

Hanjin has invested $720 million in constructing the Subic Bay yard. Phase One of the Subic Dockyard which includes a 1,000 m assembly line, two massive gantry cranes and a 1.6-km quay wall has been completed. Total shipbuilding capacity for this phase is 220,000 tons/year. Phase Two due for completion in the 2nd half of 2008 will boost capacity by an extra 450,000 tons/year.

ChoonBae Jeon, Manager of Technical Team, Hanjin Heavy Industries & Construction-Tech, Inc., said: "The new shipyard in the Philippines is based on our strategy to overcome growth limits because of limited space in our local shipyards. We will be adopting Aveva Marine solutions and Aveva NET which are effectively in use in our Youngdo, Ulsan and Masan shipyards in South Korea."

Peter Finch, President, Aveva Asia Pacific, said:"We are sure that the efficiency at the high-tech Subic Dockyard will be further enhanced with the implementation of our solutions. Moreover, we are certainly proud that Aveva's solutions will play a major role in the design and construction of the world's largest ship being built at Subic."

Separately, Aveva also announced that it has won a contract worth GBP 4 million (about $7.8 million to equip a major Japanese shipyard with Aveva Marine solutions.

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