STX Takes Strategic 39.2% Stake in Aker Yards

STX has acquired a 39.2% strategic shareholding in leading European yard group Aker Yards, through a wholly owned Norwegian subsidiary.

As a major shareholder with a strong commitment to the shipbuilding industry, STX will endeavor to be a stable and supportive partner for Aker Yards. The company believes Aker Yards could benefit from the support of a long-term industrial shareholder, which is committed to its success and will seek to ensure that the business continues to be run to the benefit of all stakeholders.

STX emphasizes that it intends to remain as a significant minority shareholder in Aker Yards. The company will evaluate Aker Yards in a long-term industrial perspective, and reserves the right to assess available options regarding its strategic shareholding in Aker Yards in due course. During this evaluation and assessment period, the company will seek an ongoing and open dialog with Aker Yards and its key stakeholders.

STX recognizes the high importance of Aker Yards for the maritime industry clusters in several countries, especially in Norway, Finland, Germany and France, and appreciates Aker Yards’ strong track record in innovation and technological development.

"Aker Yards is an accomplished and recognized leader in the shipbuilding business, and our strategic stake in the company represents a solid opportunity to gain valuable exposure to attractive industry segments," said Duk-Soo Kang, chairman of STX.

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