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Meyer Werft acquires all of Finnish Turku

Germany's Meyer Werft has bought the Finnish state out of the Turku shipyard in Finland, and Meyer now owns 100 percent of the yard since acquiring it from STX in September 2014.

Photo: PRESSEFOTO STX

Family-controlled German shipyard Meyer Werft will get full ownership of Finland's Turku shipyard. Since Turku was acquired in September 2014 from STX Europa, Meyer has shared ownership with the Finnish state, which owned 30 percent of the shares, and Meyer had an option to purchase this stake - an option that Meyer will now exercise.

"At the time of the purchase Meyer was only operating shipyards in Germany and therefore going to invest in Finland was a big and strategic step for us. Our well-coordinated acquisition with the Finnish Government made it possible for us to implement this strategic move, and I am sincerely grateful for the government for its valuable contribution. In general, I hope that our decision to buy all the shares is received as a sign of confidence that we can make Turku shipyard a long term shipbuilding success," says Jan Meyer, Chief Executive Officer of Meyer Turku, in a statement from the yard.

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