Tag: Kvaerner plc
Kvaerner PLC, together with Yukos, a group of Norwegian and international banks, including DnB, Nordea, and Norsk Tillitsmann on behalf of the Norwegian bond and certificate owners, has agreed to propose a complete solution for solving Kvaerner's financial problems.
Kvaerner PLC is continuing negotiations with its creditor banks in order to avert bankruptcy.
President and CEO Kjell E Almskog has informed the board of directors that he wishes to resign, effective 1 November 2001.
Kvaerner PLC has reached an agreement in principle to sell Kvaerner Oil & Gas's London-based Hydrocarbons business and Kvaerner Process Technology to Yukos Oil Company of Russia.
Kvaerner PLC has been selected by Cogentrix Energy for final negotiations of the turn-key engineering, procurement and construction (EPC) contract for an 810mw power facility being developed by Cogentrix outside Bedford, Indiana, USA.
Kvaerner PLC has won a contract to upgrade Statoil's Sleipner Vest installations.