Kvaerner Appeals EC Ruling On State Aid Repayment

Kvaerner has reportedly appealed against a European Commission ruling that it must repay state aid of $44.8 million for alleged over-production at its Warnow shipyard in Germany during 1998. Kvaerner officials maintain that the company complied with a technical capacity limit imposed when the yard was acquired in 1992, and was within its rights to boost actual output due to productivity gains.