Appointment

RNS Number:4702M
Kvaerner PLC
1 November 2001


Kvaerner appoints new CEO for German Shipyard

LONDON, 1 November 2001: Kvaerner, the international engineering and
construction Group, today announced the appointment of Peter Viergutz as Chief
Executive Officer of its German Shipyard, Kvaerner Warnow Werft GmbH. 
Viergutz, (58) a German citizen, has spent the last 35 years of his
professional career within the German maritime industry.  Since 1993, he has
held the dual-position of Managing Director of Shipyard Holding (Hegemann
Group), Bremen, and also Managing Director of Peene-Werft GmbH, at Wolgast,
the former East German shipyard.  Prior to this, he held a number of positions
with Blohm+Voss AG in Hamburg, over a period spanning 27 years.  He will take
up his new position with Kvaerner Warnow Werft early in 2002.

During his time with Peene-Werft, Viergutz has helped to develop the former
East German shipyard into one of the most modern yards in Europe for cargo
vessels and navy ships.  Peter Viergutz served his apprenticeship at the H C
Stulcken Sohn Shipyard in Hamburg.  He studied naval engineering at the
Technical University (Fachhochschule) of Hamburg.  He graduated with a
Diplom-Ingenieur Schiffbau in 1966. 

Peter Viergutz will succeed Arnfinn Orten, the present CEO of Kvaerner Warnow.
Arnfinn Orten will continue to work closely with Peter Viergutz during a
transition period.

Peter Viergutz is married and has one child.


For further information:
Matthias Trott, Communications Manager, Kvaerner Warnow Werft:  [phone]
1102 or [e-mail]  or Paul Emberley, Vice President, Group
Communications, Kvaerner PLC:  [phone] or [phone] or
[e-mail] 

Note to editors:

1. Kvaerner is a world-class international engineering and construction group
with the capability and resources to undertake the world's most challenging
projects.  Today's Kvaerner is an industrial technology provider.  It meets
the needs of its customers by adding value to their business - through the
provision of innovative, cost-effective solutions - for challenges in the
hydrocarbons, process and metals industries.  The Group's activities are
organised in two core business areas: E&C (Engineering and Construction), and
Oil & Gas.  Other activities currently also include shipbuilding and pulping
equipment.  Kvaerner is a Norwegian registered business, but has a London,
UK-based international headquarters. The Group has annual revenues in excess
of US$6 billion, with some 35,000 permanent staff located in almost 35
countries throughout Europe, Africa, Asia and the Americas.