RNS Number:8090C
Cammell Laird Holdings PLC
20 December 1999

                Stephen Byers Opens Tyneside Expansion Project
                                       
Trade and Industry Secretary, Stephen Byers, today officially opened a newly
renovated dry dock at Cammell Laird's Tyneside Shipyard and inaugurated the
project to renovate a further dry dock.

Today's opening of No.3 dry dock will accommodate the increased demand for
ship repair and conversion projects and supplement the capacity provided by
the existing No.2 dry dock which is the largest dock on the East coast.  It
also represents a major milestone in the Group's capital expenditure programme
at the yard, which will see a total of #15m invested by the summer of 2001.

Phase II of the Group's expansion programme which is now materially completed,
included the acquisition of the adjoining Hawthorn Leslie Shipyard, together
with the No.3 Dock from South Tyneside Council.  The Group has already
invested around #2 million in re-activating the dock including the fabrication
of a new dock gate, refurbishment of all dock equipment, dredging and new
craneage.

Phase III of the expansion programme entails the excavation of the No.1 Dock
on the Tyneside site which was filled in during the early 1970s.  Work will
start soon on the creation of a modern, covered dock suitable for building
vessels of up to 40,000 tonnes as well as undertaking sophisticated repair and
conversion works.

The Tyneside shipyard currently employs over 1,000 people, as well as
supporting a number of local sub-contractors and suppliers.

Juan Kelly, Chairman of Cammell Laird, said:

"Today's official opening is a clear illustration of Cammell Laird's
commitment to its business in the region.  When completed, the site will be
one of the most modern, capable and versatile shipyards in Europe and will
have the potential to bring shipbuilding back to the area.  This is an
exciting time for both Cammell Laird and Tyneside."


For further information:

Brett Martin, Deputy Chief Executive
Cammell Laird Holdings plc              Tel. 0151 236 5500

Peter Otero
Financial Dynamics                      Tel. 0207 831 3113

END

MSCNFAAEAEXNFFN
Commoditrade (LSE:CMM)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Commoditrade Charts.
Commoditrade (LSE:CMM)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Commoditrade Charts.