No 18



Newport News Shipbuilding Sells Stake In Abu Dhabi Shipbuilding

Abu Dhabi Shipbuilding (ADS) announced on 27 April that the USs Newport News Shipbuilding had sold its 30% stake in the UAE firm for an undisclosed amount to the Abu Dhabi government. This raises the latters stake in ADS to 50% -- but the governments intention is to offer the recently acquired 30% to international firms specializing in shipbuilding. Newport News Shipbuilding was the main technical and...