The Finnish government is preparing for the possibility that activity at the two shipyards of STX Finland would be suspended in the next couple of weeks due to lack of funds, the Finnish broadcasting company YLE reports on its website.
“According to the information obtained by YLE News, the government considers the suspension of activity at STX shipyards in Turku and Rauma highly likely,” the broadcaster reported.
YLE did not disclose the source of the information.
“According to assessment of the situation, STX Finland should obtain new funding in the next couple of weeks in order to be able to maintain its activities. Three Finnish civil servants have been in South Korea on a fact finding mission,” the report continued.
STX Finland is part of STX Europe headquartered in Oslo, which again is owned by STX Shipbuilding & Offshore, one of the three listed main companies in the Seoul based STX Business Group. The group is facing financial difficulties and, according to YLE, it has not been able to meet its obligation based on an agreement earlier this year to inject cash in the Finnish subsidiary.
Earlier this year, the government agreed to buy the site of STX Finland’s Turku shipyard and the STX group agreed to inject funds into STX Finland to ensure the completion of two 97,000 gross ton cruise liners the company has on order from TUI Cruises in Germany.
