CIN is reporting that South Korean based STX Group is considering selling off its shipyards in Europe. This would effect STX France (currently building the third Oasis) and STX Finland (currently building TUI’s new ships.)
Interestingly enough, these two shipyards have seen their fair share of ownership changes. Lets review…
- STX Finland started out as Wärtsilä(1930) then became Masa-Yards (1989). Then Kværner bought them and it became Kværner Masa Yards(1991). Then Kværner went through some company wide changes (a temporary “forced” merger with Aker ASA) and became Aker Yards(2005). Aker ASA then divested their shares of their shipyard, while STX was buying them up and squeezing out all remaining minority shareholders. As STX Shipbuilding became majority share holder, they once again change their name to STX Europe in 2008. Then rebranded their Finland yards, STX Finland. This is where we are at today.
- STX France yards started out as Chantiers de l’Atlantique(1955). Then Chantiers merged with the Alstom group in 1976. In 2006, Alstom sold a majority share in the yard to Aker ASA (Same firm as above.) This is where both Finland and France’s histories intertwine. As Aker was distancing it’s self from the yards in 2008, STX was buying the shares of both France and Finland up.