Arctech Helsinki Shipyard is in 100 % Russian ownership as United Shipbuilding Corporation bought the other half of the company shares from STX Finland Oy.
Arctech Helsinki Shipyard Inc. was founded in December 2010 as United Shipbuilding Corporation bought the first 50 % of the shipyard shares from STX Finland, a subsidiary of the Korean owned STX Europe. The joint venture was established to respond to the need of growing market of Arctic shipbuilding and to unite the Finnish and Russian maritime clusters. The new ownership arrangement is expected to further strengthen the Finnish-Russian shipbuilding cooperation.
”I am convinced that USC is committed to developing Arctech in long-term. We have a good order book and skilled staff. This is a good basis for future actions. We also believe that the owner commitment will now be stronger compared to the joint venture arrangement”, says Esko Mustamäki, the Managing Director of Arctech Helsinki Shipyard.
United Shipbuilding Corporation (USC) was founded in 2007 to unite and operate the shipbuilding industry in Russia. The company owns majority of the industry in Russia including both navy and civil shipbuilding sectors.
Arctech Helsinki Shipyard Inc. specializes in arctic shipbuilding technology, e.g. building icebreakers and other arctic offshore and special vessels. The shipyard is a forerunner in developing and applying technological innovations and has 150 years’ experience in shipbuilding. Arctech employs approximately 500 shipbuilders. www.arctech.fi
Read more from press release: http://arctech.fi/wp-content/uploads/Press-release-30122014.pdf