May 8, 2015

German Meyer takes full ownership of Turku shipyard

Meyer decided to further invest in Turku shipyard using the call option.
Meyer decided to further invest in Turku shipyard using the call option.
Meyer Turku

The Meyer family, operating the shipbuilding company Meyer Werft in Germany, became 100 per cent owner of the Meyer Turku on 6 May 2015.

German Meyer Werft and the Finnish State acquired Turku shipyard from STX Europe in September 2014. Meyer Werft took up 70 per cent of the shares, and the State of Finland purchased 30 per cent of the share capital through the Finnish Industry Investment Ltd (FII). In the case of the Turku shipyard, it was agreed that Meyer had a call option to buy FII’s minority stake in the shipyard.

“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 – which we carefully considered from different angles,” says Jan Meyer, chief executive officer of Meyer Turku. 

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,” Meyer continues. “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.”

“We are happy to see that the Turku shipyard is developing so positively,” says Jan Vapaavuori, the Finnish minister of Economic Affairs. “Our engagement was an investment in Finnish strengths – the shipyard and the strong maritime cluster. It is good to see that Meyer is sharing our confidence and further invests in the Turku shipyard. This benefits not only the yard but also the maritime cluster and Finland at large.”

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