Fri 13 Jun, 2008
| Posted in: South Korea’s STX Shipbuilding said yesterday that it would consider closing Aker Yards’ Finnish shipbuilding facility if it fails to procure significant new orders, writes Mike Grinter.
The threat made by STX president Kang Duk-Soo amounts to the sort of bombshell European shipbuilders had feared ever since the company took a 39.2% share in Aker Yards in October 2007, for $800m.
“We have not planned to buy more shares in Aker...