Aker finalizing Alstom transaction

Following the earlier announcement that Aker Yards and ALSTOM intend to join forces in shipbuilding, a new company has now been established to which Chantiers de l’Atlantique will transfer its employees, assets and cruise ships contracts. The legal name of the new company in France will be Aker Yards SA, and the names Aker Yards, France, Aker Yards, St. Nazaire and Aker Yards, Lorient will be used for branding, and communication purposes. A subsidiary of Aker Yards SA will be established to include the operations in Lorient. Simultaneously, the legal name of the operations in Finland will be changed from Aker Finnyards to Aker Yards Oy. For branding purposes, the names Aker Yards, Finland, Aker Yards, Turku, Aker Yards, Helsinki and Aker Yards, Rauma will be used.

Aker Yards will hold 75% of Aker Yards SA, and Alstom the remaining 25%. Patrick Boissier, Chantiers de l’Atlantique chairman and CEO will be appointed non-executive director of Aker Yards SA, representing ALSTOM. Karl Erik Kjelstad, President & CEO of Aker Yards, will be Chairman of Aker Yards SA. Jacques Hardelay will take over as managing director of Aker Yards SA from 1 June. Hardelay is currently holding the position as chief operating officer at Chantiers de l’ Atlantique and he will report to Yrjö Julin, the president of cruise & ferries business area in Aker Yards.

In order to yield all possible synergies within the Cruises & Ferries business area, an integration office will be established in France, headed by SVP Bo-Erik Blomqvist. Blomqvist will also be Deputy President for the Business Area Cruise & Ferries. The integration teams will jointly define and form the “new” business area Cruise & Ferries, now served by five yards in Finland and in France. Juha Heikinheimo, SVP Sales and Marketing will be heading the Cruise & Ferries business area sales and marketing from day one, combining the departments in France and Finland.

Karl Erik Kjelstad, President & CEO of Aker Yards, states in a comment “I am very pleased that we will have a strengthened team in place for our Cruise & Ferries business, where we ensure the continuation in management in both France and Finland. The team will together develop our activities in order to serve our customers even better.”