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November 3, 2008

Aker Yards officially now STX Europe

It's official. The former Aker Yards is now STX Europe, reflecting the fact that South Korean-based STX Business Group is the company's principal shareholder, with an ownership stake of 92.46 percent.

"As Aker Yards, this company established a track record for building some of the world's most innovative ships. As STX Europe, we approach the market with a new brand and the sharper strategic focus of attaining international market leadership within our two key segments: cruise and offshore vessels," says Torstein Dale Sjøtveit, President & CEO of STX Europe ASA.

"Going forward, we have a high order backlog, an outstanding product range, and STX as a strong industrial owner. Together, this comprises a solid foundation from which to address a challenging market", says Sjøtveit.

"Our focus has always been to develop cutting-edge maritime solutions that provide maximum profitability and efficiency for our customers. We see many opportunities for synergies with other parts of the STX Business Group, as we leverage STX' combined maritime experience, skills and resources", comments Torstein Dale Sj¿tveit.

The company is listed on the Oslo stock exchange under the ticker STXEUR (former AKY).

All STX Europe's subsidiaries will also have individual legal names, and, as a consequence, Aker Yards Marine Inc. is now STX Canada Marine Inc in Canada and STX US Marine Inc. in the U.S.A.


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