Re Contract

RNS Number:5963G
Kvaerner PLC
9 July 2001


Kvaerner secures US$55 million contracts for new bio-pharmaceutical facilities
in north-eastern U.S.

LONDON, 9 JULY 2001: Kvaerner, the Anglo-Norwegian engineering and
construction Group, today announced that it has secured two contracts with a
combined value in excess of US$55 million, from two customers, for two new
bio-pharmaceutical manufacturing projects in the north eastern U.S.  Kvaerner
will undertake the engineering, procurement, construction management, and
validation work for both projects.

John Petchonka, Managing Director, Kvaerner E&C's Bridgewater, New Jersey
operation in the U.S., commented: "As state-of-the-art bio-pharmaceutical
manufacturing facilities, these are significant projects for Kvaerner.  And
they further emphasise our position as a world leader in the design,
construction and validation of bio-pharmaceutical and pharmaceutical
facilities." 

The projects represent a total capital investment by the customers in excess
of US$500 million, and will be undertaken from Kvaerner's New Jersey
operation.  Work will start this month on both projects.

Kvaerner recently completed a world-class manufacturing facility for ImClone
Systems Incorporated of New York, USA.  This new 100,000 square foot facility
produces monoclonal antibodies for treatment of colorectal, lung, and
pancreatic cancers.  The facility was designed, constructed, and validated in
record time.


For further information: 

Paul Emberley, Vice President, Group Communications, Kvaerner PLC: +44 (0)20
7339 1035 or [phone] or [e-mail] 
or Vanessa Mourant, Communications Manager, Kvaerner E&C: [phone]
or [phone] or  [e-mail] 
or visit the Group web-site at http://www.kvaerner.com 

Notes to editors:

1. Kvaerner is a world-class Anglo-Norwegian engineering and construction
Group.  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 currently organised in two core business areas: E&C
(Engineering and Construction), and Oil & Gas.  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, Asia and the
Americas.

2. The E&C business area of Kvaerner specialises in the provision of process
technology, design, engineering, project management, procurement and
construction to a number of industrial sectors on a worldwide basis: chemicals
and polymers, pharmaceuticals, oil and gas, water, energy, nuclear, minerals,
mining, steel and transportation.  Kvaerner's breadth of capability is unique
among its competitors.  It offers the complete range of services that are
necessary to realise global projects from conception to start-up.  These
services include a portfolio of advanced process technologies, research and
development, test work, a full range of engineering studies (including
bankable feasibility and environmental studies), total project management,
engineering and design, procurement, construction and maintenance services.   
Kvaerner E&C employs more than 9,000 people operating from over 30 offices
worldwide.  This global reach enables Kvaerner to tailor its services and
resources to suit individual client needs and market conditions to provide
cost-effective technical solutions.