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German Meyer Werft takes control of Finnish yard

Meyer Werft has reached agreement with the Finnish government to acquire an ownership stake of 70 percent in the major cruise vessel shipyard.

Photo: PRESSEFOTO STX

Following protracted negotiations, the Finnish specialist in building cruise vessels, STX Finland, based in Turku, is now in German hands.

Family-owned Meyer Werft says in a press release on Monday that the shipyard has signed a deal with the Finnish government to acquire a 70 percent ownership stake in the Turku yard, which currently employs 1,300 people along with several subcontractors.

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