Meyer Turku shipyard said it will more than double its investments from €75 million ($89.6 million) to €185 million ($221 million) as it aims to boost steel production to fulfill its record order book stretching into 2024. The investments include a new plate cutting line, a new profile cutting line and a new panel line to the steel halls to be ready by end of 2018/start of 2019.
Head of steel production of Meyer Turku, Mika Heiskanen, said, “We are rebuilding Turku shipyard into a modern ship assembly factory. After these investments we will have one of the world’s most modern steel productions that will enable the ramp-up of our production.”
“For the shipyard this will be a giant leap forward to prepare to the increasing international competition. We really need these investments along with the full and stable work effort of our ship building teams to fulfill the promises we have made to our customers,” said CEO of Meyer Turku, Jan Meyer.
The investments are part of a long term plan of Meyer Turku to ramp up the production to three times the value the shipyard produced in 2014 when the Meyer family took over.