Odense Steel Shipyard divides its organization

Odense Steel Shipyard will divide its organization into two divisions, Lind Industrial Park and Lind Shipyard.

Lind Industrial Park is facing a development process, while Lind Shipyard is to be closed down. These are two very different tasks which have to be handled differently, and this is best done in two separate organizations.

In this connection, managing director Finn Buus Nielsen has decided to resign from his position, allowing other resources to lead Odense Steel Shipyard in the time ahead. He will resign from his position as of November 1, 2009.

Lind Industrial Park will operate as an independent division where FAYARD (formerly known as Fredericia Shipyard) currently rent facilities, whereas Lind Shipyard will be closed down gradually until its final orders have been delivered in February 2012.

Odense Steel Shipyard Ltd. A/S will continue as a company but will be the holding company for the two independent divisions.<Korea Shipping Gazette>