Meyer Werft Wraps Up STX Finland Deal
Meyer Werft has joined forces with the STX Finland shipyard in Turku. After weeks of negotiations, the Finnish Government and Meyer Werft signed a share purchase agreement with the current owner STX Europe. With its 70% stake, Meyer Werft takes the industrial leadership of the new company.
At present some 1,300 employees and a specialised supplier network are involved in the construction of the cruise ship Mein Schiff 4 for the German cruise operator TUI Cruises from Hamburg.
Dr. Jan Meyer, managing partner of MEYER WERFT, said: ” This acquisition will strengthen the yards in Papenburg, Turku and Rostock. With joining forces with Turku we can offer more flexibility to our customers.
In addition both shipyards respect each other for their high level of professionalism and thus can learn a lot from each other in order to improve their working processes or to join forces on research and development.
We are confident that in this way we can create a good opportunity for the Finnish maritime cluster to thrive and also hope to interest many young people to join us for building the future high-tech ships.”
The acquisition is still subject to clearance by the antitrust authorities and banks.
The plan is to rename the company STX Finland Oy to Meyer Turku Shipyard Oy.
Press Release, August 4, 2014