Meyer becomes 100% owner of Turku shipyard

The Meyer family, operating the shipbuilding company Meyer Werft in Papenburg, and the Finnish State acquired Turku shipyard from STX Europe in September 2014.  At that time Meyer Werft had taken up 70% of the shares, and the State of Finland purchased 30% of the share capital through the Finnish Industry Investment Ltd (FII).
As usual for the FII´s investment policy, its exit from its investments was planned from the beginning. 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.  Meyer has now decided to further invest in Turku shipyard using the call option.
“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. 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. 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”, said Jan Meyer, chief executive officer of Meyer Turku.
The change in the ownership  structure is expected to become effective within the next weeks.