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Goodbye Aker Yards, hello STX Europe

Article-Goodbye Aker Yards, hello STX Europe

Goodbye Aker Yards, hello STX Europe

Seoul: Europe's biggest shipbuilder, Aker Yards of Norway, will be renamed STX Europe ASA due to its takeover by South Korea's STX Shipbuilding , Aker Yards said on Wednesday.
The name change was approved by an extraordinary general meeting of shareholders, which also elected Su-Jou Kim as the new chairman, Aker Yards said in a statement.
Aker Yards, which has roots extending back 167 years in Norway, has 15 yards in Norway, Finland, France, Romania, Brazil and Vietnam and 30 percent stakes in three yards in Germany.
STX said last month that it had gained full management control and it is carrying out a squeeze out of minority shareholders, having raised its stake to nearly 93 percent by the end of August.  [04/9/08]

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