STX Finland has announced that they will be closing the Rauma yard. In an effort to condense operations in an attempt to become profitable again, all shipyard work will be transferred to its Turku yard.

Jari Anttila, EVP and CEO of STX Finland:

The decisions are based on a realistic estimate of the company’s current state and the market outlook. They will halt the company’s vicious circle of losses, now in its sixth year, and lay the foundation for a profitable business. These decisions will also enable a healthy and profitable shipyard industry to flourish in Finland.

photo via stx finland