Alstom, the French engineering group, is to form a new joint venture with Norwegian shipbuilder Aker Yards, after selling Aker a majority stake in its biggest shipyard, 'Chantiers de l'Atlantique'. The sale is to be concluded on 31 May 2006. It will be based in the French west-coast town of Saint Nazaire, the site of the Chantiers de l'Atlantique shipyard, which will be renamed Aker Yards Saint Nazaire. The French shipyards have a healthy order book, including five large ocean liners, three gas carriers which are under construction for Gaz de France, all due before June 2009. In France, the group employs 3,000 jobs on the only shipyards localised in the French west-coast town of Saint Nazaire. The group should create 170 jobs in Saint Nazaire before December 2006.