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    Aker yards acquire Brevik Group

    News // January 4, 2002
    Aker Yards has acquired close to 100 per cent of the shares in the Brevik Group in Norway, which owns Brevik shipyard, a leading builder of offshore vessels.

    The Brevik Group has around 600 employees, and a total of eight offshore service vessels newbuildings are on order at the yard, the last of which is due to be delivered in October 2003.

    Petter Pihl, one of the founders of the Brevik Group, has sold all his shares while Kjell Folkestad, Lars Stãrk, Mardon Syvertsen, Herfinn Osland and Arnulf Holtermann continue as minority shareholders and as employees in the company. Lars Stärk will remain as Managing Director of the Brevik Group and he will also be a member of Aker Yards' executive management team.

    The Company has changed its name from Brevik Management to Aker Brevik AS.

    Aker Yards said it was pleased with the acquisition and saw potential for growth in Brevik, not only in shipbuilding, but also in other businesses where the group is engaged.

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