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The signing of a contract for two Mistral-class helicopter carriers (LHDs) and associated services between DCNS and the Russian defense export agency Rosoboronexport took place in St. Petersburg on June 17, 2011. STX France will undertake the construction of the ships at its Saint-Nazaire shipyard under a sub- contract with DCNS. The Russian shipbuilder OSK will provide part of the hull of both ships. The first ship will be delivered to Russia in 2014 and the second LHD will be delivered in 2015. The vessels will each have a length of 199 meters, a dis- placement of 22,000 tons and a speed in excess of 18 knots. Previously, STX France and DCNS have built three Mistral-class LHDs for the French Navy. Mistral and Tonnerre were delivered to the French Navy in 2006 and 2007, respectively. The third LHD, Dixmude, is currently being built by DCNS and STX France and is scheduled for delivery in 2011. STX France SA, a 66.66% owned subsidiary of STX Europe AS, has rescinded the contract with GNMTC (General National Maritime Transport Company) ? the state-owned Libyan shipping company ? for the construction of a 140,000 GT cruise vessel for delivery end-2012. The reason for the rescission is the default of payment from GNMTC. Due to insurance cover for such an incident, the rescission is expected to have limited impact on the financial results of STX France. Order intake of $317.5m in Q1 2010 (Q1 2010: $522m). Seven vessels successfully delivered in first quarter 2011. Order backlog of 57 vessels end 1Q 2011 totaling $5.2b; (Q1 2010: $4.1b) The acting President and Chairman of STX Finland, Su-Jou Kim, decided to re-organize STX Finland?s management group to improve the efficiency and compet- itiveness of STX Finland. Jyrki Heinimaa has been appointed Executive Vice President and CFO (Chief Financal Officer) of STX Finland Oy. He will be re- sponsible for accounting and finance, communication, synergies and strategy. In addition, Heinimaa is responsible for new business areas, such as wind power. Hein- imaa has been with STX Finland in various management positions for 15 years. Timo Suistio has been appointed Executive Vice President and COO (Chief Op- erating Officer) of STX Finland Oy and shipyard director of the STX Rauma Ship- yard. Suistio will be responsible for sales, purchasing, design and production.Suistio has been with STX Finland for 30 years, including four years as head of theSTX Rauma Shipyard. Earlier this year, STX Finland Oy and Saipem S.p.A signed a contract for the major overhaul and maintenance of the semisubmersible pipelay vessel Castoro Sei. The work on the ship, providing employment for as many as about 1,000 people, will be completed by STX's Turku shipyard. The Castoro Sei is a 152-meter-by-70.5-meter semisubmersible pipelay vessel, owned by Italian offshore company Saipem S.p.A. She is currently deployed in laying the pipeline for the Nord Stream project on the Baltic Sea. STX's Turku ship- yard will carry out extensive overhaul of Castoro Sei's mooring and pipelaying sys- tems. Some other maintenance activities and repairs will also be done during the continuous four-week project. STX Finland Oy has three shipyards in Finland, Turku shipyard, Rauma shipyard and Arctech Helsinki Shipyard Oy, of which STX Finland Oy owns 50%. STX Finland's subsidiaries include Aker Arctic Technology Oy and STX Cabins Oy, among others. The company belongs to the STX Europe Group, an international shipbuilding group with a product range including passen- ger ships, ferries, offshore services vessels and specialized vessels. STX Europe has approximately 15,000 employees. STX Europe's principal shareholder, the Ko- rean-based international industrial group STX Business Group, has approximately54,000 employees and specializes in shipping and trade, shipbuilding and ma- chineries, plant and construction, and energy. A. ThorpeAt a glanceSTX ? FranceSTX ? France (pictured) Avenue Antoine Bourdelle ,BP 90180 FR-44613 Saint-Nazaire Cedex, France Tel. + 33 (0)2 51 10 91 00 STX Europe P.O. Box 453 Skøyen N-0213 OSLO, Norway Tel: + 47 21 02 15 00 Web: www.stxeurope.com August 2011www.marinelink.com 35MR Aug. 11 # 5 (34-41):MR Template 8/5/2011 3:51 PM Page 35