By
Rebecca Gibson |
European company STX Finland is to transfer all operations to its Turku yard to safeguard its competitive position in the shipbuilding market.
Finalised on 15 September, the agreement developed by STX Finland and its partners will involve all current operations at the company’s Rauma yard – which specialises in building ferries, small cruise ships and multipurpose vessels – being transferred to the Turku facility. The Turku yard is able to build all types of ships and has the capacity to maintain the current volume of operations.
“The decisions are based on a realistic estimate of the company’s current state and the market outlook,” said Jari Anttila, executive vice president and deputy CEO of STX Finland. “They will halt the company’s vicious circle of losses, now in its sixth year, and lay the foundation for a profitable business. These decisions will also enable a healthy and profitable shipyard industry to flourish in Finland.”