Aalborg Portland outsources vessel transport

Aalborg Portland, part of the FLS Group core business area, FLS Building Materials, has signed an agreement to sell its cement transport vessels, MS Dania Portland of 27,140 tonnes dead weight (TDW), MS Kongsdal of 7,300 TDW and MS Portland of 4,400 TDW, to the Norwegian shipping company, Tordenskjold ASA, in Bergen. Following the deal, Aalborg Portland has signed a long-term charter agreement for the carriers. Through its wholly owned subsidiary, Cembulk Carrier, Tordenskjold ASA is among the largest shipping companies specialising in cement haulage by special purpose vessels. The sale gives Aalborg Portland considerable non-recurring income for the first half of 2002. It does not affect the full year 2002 earnings outlook since it is included in the latest earnings forecast. The outsourcing reflects the FLS Group strategy to focus resources on its core competencies and Aalborg Portland's plans to focus on its key activities in the Danish market and continued expansion of the growth area white cement. FLS Industries A/S Corporate Public Relation

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