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STX Group to start building rigs and platforms

Published Aug 19, 2008
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South Korea’s STX Group will start building rigs and platforms after it takes over Aker Yards, Europe’s largest shipbuilder.

STX saw its share of Aker Yards rise to around 88% through its mandatory US $11.63 a share takeover offer, the Gyeongnam-based firm said, according to reports. STX will pay around $630m to increase the stake from 40.4%, the outfit said.

The Korean company builds oil tankers, con¬tainer vessels and bulk carriers at yards in Jinhae, South Korea, and Dalian, China.