Bid in for STX’s Turku

Finland’s government and German shipbuilder Meyer Werft have made a non-binding bid for STX’s Turku shipyard.

STX Europe yard in Turku

The Turun Sanomat daily said the offer was preliminary, but a final agreement could be sealed later this month.

The government is not aware of any other bids for the shipyard.

Turku is building a cruiseship for TUI of Germany for delivery in 2015.

The debt-ridden Korean firm has lost over $1bn on its loan-financed purchase of STX Europe, formerly Aker Yards, in 2008.

It has announced plans to shut one of two shipyards in Finland, Rauma, with the loss of 700 jobs, and consolidate work at the Turku yard.

  • Turku talks speed up

    Finland's economy minister Jan Vapaavuori has said the country's efforts to buy the Turku yard from STX should move into the "next phase" within a matter of weeks.
  • Meyer makes Turku move

    German shipbuilder Meyer Werft is in talks to buy STX Europe’s Turku yard together with the Finnish government.