Thursday, 7 August 2014

STX Finland shipyard to be sold

STX Finland shipyard to be sold

By Jerry Limone

German shipbuilder Meyer Werft and the Finnish government have agreed to acquire STX Finland from South Korea-based STX Corp.

Meyer Werft will buy a 70% stake, the Finnish government 30%. The acquisition is subject to clearance by antitrust authorities and banks.

STX Finland has a shipyard in Turku; a shipyard in Rauma was sold to the Finnish town earlier this year. The plan is to rename the company Meyer Turku Shipyard.

The Turku yard built the Mein Schiff 3, a TUI Cruises ship that entered service in June. STX Finland is currently constructing the Mein Schiff 4, and TUI Cruises this week reached a deal for two more ships of the same class to be constructed at the Turku yard.
STX also has built many ships for the North American market, including Royal Caribbean's Oasis and Allure of the Seas.

Meyer Werft’s Papenburg yard built Celebrity’s Solstice-class and Norwegian Cruise Line’s Breakaway-class ships. The yard is constructing Norwegian’s Breakaway Plus and Royal Caribbean’s Quantum-class vessels.