Page 4: of Maritime Reporter Magazine (January 1993)

Kvaerner Group To Acquire

Kimek Shipyard

Norwegian shipping, offshore and en- gineering group Kvaerner A/S has an- nounced that it is taking over the closely- held Kimek A/S shipyard in Kirkenes on the Russian-Norwegian border.

Kvaerner, which already owns 40 percent ofKimek, intends to provide the company with 30 million Norwegian

Kroner ($4.8 million) in fresh capital.

According to Kvaerner, the shipyard will change its name to Kvaerner Kimek

A/S and will concentrate on moderniza- tion and maintenance work for the Rus- sian fishing fleet.

The acquisition of the remaining out- standing shares in Kimek coincides with a major government development pack- age for both the yard and Kirkenes. "This 230-million-(Norwegian) Krone ($36.7 million) program, which is due to get underway immediately and will be com- pleted in 1994, is being funded jointly by

Kvaerner and the Norwegian gov- ernment," the release continued.

Navy Awards Litton $760.9

Million Contract To Build

Amphibious Assault Ship

Litton's Ingalls Shipbuilding Di- vision, Pascagoula, Miss., was awarded a $760.9 million contract from the U.S. Navy to build the sixth ship of the Wasp (LHD) class 40,500-ton multipurpose amphibioi assault vessels.

Ingalls has previously been award* contracts to build the first five Wasp cla ships, and has already delivered two in active service with the fleet.

The Wasp class ships are 844feet Ion

The vessel's primary mission is tl embarkation, deployment, landing an support of a fully-equipped U.S. Mi rine landing force of almost 2,00 troops.

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