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Aker Yards

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Title: Aker Yards  
Author: World Heritage Encyclopedia
Language: English
Subject: Valmet, Rostock, Alstom, Shipbuilding, Kværner, Aker Solutions, MSC Cruises, ARA Almirante Irízar (Q-5), Hämeenmaa-class minelayer, MS Freedom of the Seas
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Aker Yards

STX Europe
Industry Shipbuilding
Predecessor(s) Aker Yards
Founded 2004
(as Aker Yards)
(as STX Europe)
Headquarters Oslo, Norway
Key people In-Sung Lee (Chairman of the board, Su-jou Kim (President & CEO)
Revenue NOK 31,496 million (2008)[1]
Operating income Decrease (NOK 561million) (2008)[1]
Profit Increase NOK 40 million (2008)[1]
Owner(s) STX Corporation
Employees 15,500(2008)[1]

STX Europe AS, formerly Aker Yards ASA, was until recently a subsidiary of the South Korean industrial chaebol STX Corporation, the largest shipbuilding group in Europe and the fourth largest in the world.[2]

With headquarters in Oslo, Norway, STX Europe operated 15 shipyards in Brazil, Finland, France, Norway, Romania and Vietnam.
The company had three business areas: Cruise & Ferries, Offshore & Specialized Vessels and Other Operations.
In 2012, with rising outstanding debts, STX retained the Finnish cruise-ship building yard, and sold the remainder as STX OSV Holdings, (Offshore & Specialist Vessels), including all the yards, to VARD.


Background: before 2006

The evolution of STX Europe originates with the founding of couple of prominent shipbuilding groups in Europe. One was the Norway based Aker Yards, created in 2004 by combining the shipbuilding activities of Aker and Kværner with the France-based Alstom shipbuilding group, which has shipyards (formerly those of Chantiers de l'Atlantique in Saint-Nazaire) and in Lorient.

Transition to STX Europe, and expansion: 2006 - till date

On 4 January 2006, Aker Yards and Alstom announced their intention to join forces in shipbuilding and create together one of the world leaders in this industry, focused on high-value-added ships, including world-class cruise ships.[3][4] The merger gave Aker Yards a majority shareholding over Alstom's shipbuilding activities; which included Chantiers de l'Atlantique shipyard - the builder of the iconic cruise liner - the RMS Queen Mary 2.

Aker ASA, the majority shareholder of Aker Yards; reduced its ownership share from 50.4% to 40.1% in January 2007. Aker divested its total shareholding in March 2007, and in October 2007, STX Business Group secured a 39.2% stake of Aker yards. Later, STX took a controlling stake, and renamed the group to STX Europe on 3 November 2008 to reflect the new ownership structure.[5][6]

In January 2009, STX business group acquired the remaining shares in STX Europe and became the company's sole shareholder. In February 2009, it was decided to delist STX Europe from Oslo Stock Exchange where it was previously listed under the ticker STXEUR.


Cruise & Ferries

The Cruise & Ferries division constructs vessels mainly at shipyards in Finland and France. The business area had revenues of NOK 19,709 million in 2008.

List of shipyards



STX Europe :


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