Davie Yards names new COO

Quebec shipbuilder Davie Yards Inc. (TSX: DAV) has appointed Arne Ramstad as Chief Operating Officer.

Mr. Ramstad will move to Quebec and start in his new position as soon as practically possible but no later than October 1, 2009.

Mr. Ramstad is an engineer with a specialization in petroleum processes. He has extensive experience in managerial positions within the marine and oil services sectors with companies such as Schlumberger Western Geco, Infotronic International, Subsea 7 and National Oilwell Varco.

Mr. Ramstad succeeds Mr. Brynjulv Mugaas, who has been acting as COO since last summer.

"I am pleased that Mr. Ramstad has accepted to take on this new challenge, to move to Quebec with his family, and to build a future here at the yard," said Steinar Kulen, Davie's CEO. "We are glad that Davie will benefit from Mr. Ramstad's extensive knowledge of the offshore oil industry, shipbuilding processes and international business."