Kvaerner Says Shipyard Sale Plans Are 'Well Advanced'

Kvaerner ASA officials reported that talks on the sale of most of its shipyards were "well advanced," even though the group will not reach its goal of exiting shipbuilding in 1999. Kvaerner has been trying to sell four of its 13 yards - Mandal, Kleven and Leirvik in Norway and Govan in Scotland - since April, when it set a target of selling all its yards in 1999 as part of a sweeping restructuring. Officials said the group now hopes to have the sales finalized in early 2000.