Arctech Helsinki now fully Russian owned

Arctech Helsinki Shipyard is building six icebreaking vessels, including this one for Sovcomflot

DECEMBER 30, 2014—United Shipbuilding Corporation, St. Petersburg, Russia, has taken full control of Arctech Helsinki Shipyard, Inc. Helsinki, Finland, after acquiring the remaining 50% share in the company from STX Finland, a subsidiary of STX Europe. United Shipbuilding Corporation had already owned a 50% stake in the company.

”I am convinced that USC is committed to developing Arctech in long-term,” says Esko Mustamäki, the Managing Director of Arctech Helsinki Shipyard. “We have a good order book and skilled staff. This is a good basis for future actions. We also believe that the owner commitment will now be stronger compared to the joint venture arrangement.”Aleksei Rakhmanov, Managing Director of USC, points out that United Shipbuilding  did not only obtain “full access to technical documentation and the know-how but also to the people who can share this knowledge. The company has efficient assets, but the advantage of the asset is in its human potential.”

The shipyard employs about 500 workers and is building six icebreaking vessels. The first vessel, a Baltic icebreaker for the Russian Ministry of Transport, is due to be delivered in autumn 2015. The second vessel, the world’s first LNG-powered icebreaker for the Finnish Transport Agency, will be delivered by the beginning of 2016.

This past spring, Arctech was awarded a contract to build an icebreaking supply vessel for the Russia´s largest shipping company Sovcomflot. Early summer, Arctech received an additional order of three icebreaking stand-by vessels.  Arctech´s order book now extends until summer 2017.