USC to take total ownership of Helsinki Shipyard

Arctic offshore supply vessel Vitus Bering

OCTOBER 28, 2013 — The Russian state-owned United Shipbuilding Corporation (USC) is to take full ownership of the Arctech Helsinki shipyard from STX Finland, according to Russian financial newspaper Kommersant, which says the purchase price is under 20 million euros.

USC already holds a 50 percent stake in the shipyard, which specializes in vessels with icebreaking capability, such as the Arctic offshore supply vessel Vitus Bering.

USC’s head of communications Aleksei Kravchenko confirmed the purchase to Finnish newspaper Yle, but said that the timetable is not yet confirmed and that the deal could take some time. The purchase price is under 20 million euros, according to Kommersant.