HELSINKI (AFX) - Waertsilae Oyj said it will acquire a 12.5 pct stake in newly formed Aker Arctic Technology Inc, adding it expects strong growth potential in the ice-going ship market.
Financial details were not disclosed.
Aker Arctic Technology, a subsidiary of Aker Finnyards, continues the activities of the former Masa-Yards' Arctic Technology Center, but will also offer its own portfolio of conceptual ice-going ship designs.
"Taking an active stake in joining Aker Arctic Technology gives Waertsilae a unique opportunity to contribute in the development of ice going vessels and structures," said Mikael Maekinen, group vice president of Waertsilae Ship Power.
ABB and Aker Kvaerner Engineering and Technology AS are other owners.
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Financial details were not disclosed.
Aker Arctic Technology, a subsidiary of Aker Finnyards, continues the activities of the former Masa-Yards' Arctic Technology Center, but will also offer its own portfolio of conceptual ice-going ship designs.
"Taking an active stake in joining Aker Arctic Technology gives Waertsilae a unique opportunity to contribute in the development of ice going vessels and structures," said Mikael Maekinen, group vice president of Waertsilae Ship Power.
ABB and Aker Kvaerner Engineering and Technology AS are other owners.
arild.moen@afxnews.com
am/cml
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
