Independent journal on economy and transport policy
01:40 GMT+2
STENA TO CUT COSTS AND FREEZE INVESTMENT
(Shipping Times)
September 26, 1997
[STOCKHOLM]
Stena Line, the world's largest ferry company, is planning an investment freeze as part of a restructuring and cost-cutting plan.
The loss-making Swedish group, which has spent 3 billion Swedish kroner (S$597 million) on new vessels in the past two years, said future capital expenditure would be restricted to maintenance of its 34-ship fleet.
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