MYKOLAIV, LULY, 23rd, 2009, CONTEXT-PRICHERNOMORIE – STX Europe, Norway, has sold its share of Wadan Yards, making 30 percent of the total stock to Mandataria Finance SA, Luxembourg, Context-Prichernomorie correspondent reports.

The agency was informed about it at the press-service of the company.

In addition the Norwegian concern intends to solve certain problems concerning the sale to FLC West 70 percent of shares of Wadan Yards owning two shipyards in Wismar and Rostock-Warnemünde, Germany, and a ship-building plant in Mykolaiv, Ukraine.

INFORMATION: The Wadan Yards Group is a multinational maritime engineering and construction group comprising leading German and Ukrainian ship yards with a highly qualified workforce of approximately 5 thousand employees. The group is based on a transaction in which Norwegian Aker Yards ASA sold a majority stake in its Merchant Vessels business area to Russian FLC West s.a.r.l. in the summer of 2008. The newly created group possesses a proud maritime heritage which will be used to cater to the global market for advanced marine solutions. The group maintains a strong customer orientation through sales offices in Moscow, Russia, Wismar, Germany and Oslo, Norway. The Oslo headquarters offers proximity to one of the world's leading maritime competence clusters within technology, project execution and financing. Wadan Yards Group specializes in advanced marine solutions for hydrocarbon exploration, production and transportation, particularly for Arctic conditions. Hence one of its key ambitions is to deliver key technology projects that will be required for the exploitation of the riches of one of the last marine frontiers; the continental shelf of the Russian Federation.