15IO Euro.bk. 36

RNS Number:4069E
Kvaerner PLC
30 May 2001


Kvaerner's German shipyard secures contracts to build two container vessels,
worth US$ 68 million

LONDON, 30 MAY 2001: Kvaerner, the Anglo-Norwegian engineering and
construction Group, today announced that its German shipyard, Kvaerner Warnow
in Rostock, has secured two newbuilding contracts worth a total of US$ 68
million from Oskar Wehr KG (GmbH & Co.), of Hamburg.  The Yard already has
four similar vessels on order from the same customer.  The two vessels - which
are of the Warnow CV 2500 design - are due for completion in the third and
fourth quarters of 2002.

With these two contracts, the order reserve for container vessels at
Kvaerner's German shipyard now numbers seven, all of which have been ordered
by German ship-owners.  Between 1997 and 2001, Kvaerner Warnow delivered six
vessels of the same basic design.

The type CV2500 container vessels developed by Kvaerner Warnow have an overall
length of 208.3 metres and are 29.8 metres wide.  With a deadweight of 33,600
tons, they have a total stowage capacity of 2,524 TEU and include 400 reefer
sockets.   


For further information:

Arnfinn Orten, President, Kvaerner Warnow Werft: +49 381 5100 or Paul
Emberley, Vice President, Group Communications, Kvaerner PLC: +44 (0)20 7339
1035 or +44 (0)7768 or www.kvaerner.com

Note to editors:
Kvaerner is a world-class Anglo-Norwegian engineering and construction Group. 
It meets the needs of its customers by adding value to their business -
through the provision of innovative, cost-effective solutions - for challenges
in the hydrocarbons, process and metals industries.  The Group's activities
are currently organised in two core business areas: E&C (Engineering and
Construction), and Oil & Gas. Other current activities also include
shipbuilding and pulping equipment. Kvaerner is a Norwegian registered
business, but has a London, UK-based international headquarters.  The Group
has annual revenues in excess of US$6 billion, with some 35,000 permanent
staff located in almost 35 countries throughout Europe, Asia and the Americas.

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