Malta's government reportedly launched a wide-ranging reform of its loss-making shipyards to make the industry financially viable. This reform apparently means the winding up of state-owned Malta Drydocks Corporation and Malta Shipbuilding and the transfer of their assets and liabilities to the government. A new company, called Malta Shipyards, is to be set up to absorb some of the workers under new working conditions. Dockyard facilities would be rented to the new company by the government.