STX Finland to Close Rauma Shipyard

By Greg Trauthwein
Monday, September 16, 2013
Jari Anttila, STX Finland

STX Finland, which has seen a deterioration of its shipbuilding base for many years, today announced its latest plan to stem the flow of red ink: a phase out of the Rauma shipyard.
 

Senior management cited the continued bad global economy in the wake of the economic meltdown of 2008 as the primary source of trouble.
 

"The decisions made now are based on a realistic estimate of the company’s current state and the market outlook,” said Jari Anttila, EVP & Deputy CEO of STX Finland. “They will halt the company’s vicious circle of losses, now in its sixth year, and lay the foundation for a profitable business.”
 

According to the company, work will be shifted to its Turku Shipyard, as anticipated volume of future demand is not enough to sustain two shipyards at STX Finland. The Turku Shipyard is able to build all types of vessels. The restructuring will not limit the company’s offering or reduce the volume of its operations.
 

The restructuring will involve the entire company and its personnel in both Turku and Rauma. As a result, the Turku and Rauma Shipyards will be reducing their workforce by about 700 person-years by the end of June 2014. STX Finland is pursuing negotiations with personnel on how the restructuring is to be implemented, what its impact will be on the various personnel groups and what the timetable will be. The company will be offering concrete support and employment measures for employees who would be laid off as a result of the restructuring; these measures will be planned in cooperation with the employment authorities.
 

“We regret having to make such tough decisions that will hit the Rauma Shipyard especially hard. But the alternative would have been the shutting down of the Finnish shipyard industry and the ending of our 300-year heritage of shipbuilding. These decisions will enable a healthy and profitable shipyard industry to flourish in Finland,” said Anttila.
The board of STX Finland made the decision on the restructuring yesterday, Sunday September 15, 2013. The decision was unanimous and it has the support of the principal shareholder.
www.stxeurope.com

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Georgia Hooks Trident Seafoods

Trident Seafoods has opened a $40 million production and distribution center in Carrollton, Ga., providing 175 full-time jobs and the capacity to produce 50,000

Intermarine Opens Office in Ecuador

Intermarine, LLC, a transporter of project, breakbulk and heavylift cargo, announced it has opened an office in Quito, Ecuador.   The new office will operate

Harkand: Expanding the Fleet, Growing a Global Business

International inspection, repair and maintenance (IRM) company Harkand aims to be a $1 billion company. MR’s Tom Mulligan recently met with John Reed, the company’s CEO,

Shipbuilding

TOTE’s 2nd LNG Containership Launched

Shipping company TOTE and shipbuilder NASSCO on Saturday launched Perla del Caribe, the second of two Marlin Class ships – the first containerships in the world to be powered by natural gas.

ME Production Receives Two Scrubber Orders

ME Production subsidiary Marine Exhaust Technology has been awarded a new contract for the DFDS vessel Finlandia sailing on the route Rosyth-Zeebrugge. The scrubber contract includes design,

MN 100: ContainerTug B.V.

The Company: ContainerTug B.V. is a specialized Dutch naval design engineering and construction company with a strong focus on developing workboats and the evaluation

Finance

Bunkers International Files for Bankruptcy

U.S. based bunkering services firm Bunkers International Corp. announced August 28 that it has filed for reorganization under Chapter 11 of the Bankruptcy Code.

Asia-N.Europe Box Rates Jump 26 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped by 26 percent to $591 per 20-foot container (TEU) in the week ended on Friday,

Greek Coastguard Rescues 2,500 over Three Days

Greece's coastguard has rescued about 2,500 migrants and refugees off the country's eastern islands over the past three days, authorities said on Monday, as the

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3874 sec (3 req/sec)