Arab Today, arab today finnish state german shipbuilder agree to purchase stxs turku shipyard
Last Updated : GMT 22:15:37
Arab Today, arab today
Arab Today, arab today

Finnish State, German shipbuilder agree to purchase STX's Turku shipyard

Arab Today, arab today

Arab Today, arab today Finnish State, German shipbuilder agree to purchase STX's Turku shipyard

STX's Turku shipyard
Helsinki - XINHUA

The State of Finland and German shipbuilder Meyer Werft have decided to purchase STX's Turku shipyard, the Ministry of Employment and the Economy announced on Monday.
According to the Ministry, the Finnish Government and the German company have signed an agreement with shipyard's owner STX Europe AS on the purchase of the whole stake of the Turku shipyard.
As agreed, Meyer Werft is expected to own 70 percent of the dockyard, and the remaining 30 percent will belong to the Finnish state. The Ministry however has not disclosed the purchase price yet.
Both the buyers have committed to injecting a substantial amount of money to the new company, said the Ministry, laying a solid foundation for the future development of the shipyard.
Meyer Werft will be then responsible for the yard's operation and further development.
"I am very pleased that the prolonged process is now approaching an elegant solution. A greatly respected industrial partner with long traditions in the field now fully works to bring its expertise to further help develop the Turku shipyard," said Jan Vapaavuori, Minister of Economic Affairs of Finland.
In addition, the agreement also includes a transition of two shipbuilding orders from Meyer Werft to the Turku shipyard.
The transaction does not include the Helsinki shipyard, half owned by Russian interests. The deal will still need approval by German authorities. No review at the EU level will be needed.
The Turku shipyard belongs to STX Finland Oy, a Finnish shipbuilding company employing some 2,500 people. It is part of STX Europe, a group of international shipbuilding companies owned by the South Korean STX Corporation.
The shipyard has got into trouble over funding crisis in recent years. The Finnish government has been considering efforts for long time about funding the shipbuilding in Turku.
Vapaavuori said that Meyer Werft emerged as a possible buyer last November. But it was not until last April when the South Koreans started to be willing to sell, he added.
Earlier, the Finnish government had taken steps to ensure that the shipyard could continue through, for example, the purchase of the land area where the shipyard is located.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today finnish state german shipbuilder agree to purchase stxs turku shipyard Arab Today, arab today finnish state german shipbuilder agree to purchase stxs turku shipyard

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today finnish state german shipbuilder agree to purchase stxs turku shipyard Arab Today, arab today finnish state german shipbuilder agree to purchase stxs turku shipyard

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday