Fredericia and Odense, 20 May 2009 - Today, Fredericia Shipyard has entered into an agreement with Odense Steel Shipyard on renting the original dock facilities at Lindø and a number of buildings housing administration, workshops and changing room facilities etc. Fredericia Shipyard will have more than 100,000 m2 at their disposal.

The agreement runs for a minimum of 25 years. Already this year, Fredericia Shipyard will commence rebuilding to be ready at Lindø on 1 January 2011 with 50% of its repair work. The remainder will move to Lindø the following year.

Shipbuilder Thomas Andersen, Fredericia Shipyard: ”For many years, we have worked with Lindø on projects and ship repairs for A.P. Moller - Maersk. At Lindø we will have desirable space and working conditions so we can continue the development from the position we have attained at Fredericia. Behind the results at Fredericia are 450 employees. To get them to move to Lindø is important, if the transformation is to be a total success. The central location of Lindø both in relation to employees and customers played a part in the decision making process. We do not plan to halt production during the move from Fredericia to Lindø.”

Fredericia Shipyard is investing an amount in the three-digit million range and will in this connection change its name to FAYARD. There is only one reservation regarding final environmental approval in the agreement. Thomas Andersen feels well received by the Lindø employees, management and board, and is looking forward to “a fresh start”.

Managing Director Finn Buus Nielsen, Odense Steel Shipyard: ”We are pleased that we, so soon after the approval of the new business plan, have a rental agreement in place with Fredericia Shipyard, and we are sure that Fredericia Shipyard will fit well at Lindø.

From day one we have had a lot of attention from many different companies on our plans for letting of space and facilities, and we are negotiating with a number of interested parties.

We expect that the agreement with Fredericia Shipyard is the first of hopefully a long line of agreements, which will ensure good and versatile utilisation of Lindø and the work force in the area.”

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