Maersk to sell Estonian shipyard

Maersk to sell Estonian shipyard

Related News •   Maersk shipyard confirms job cuts

   Odense Steel Shipyard Ltd. A/S, the Lind', Denmark-based subsidiary of the A.P. Moller – Maersk Group, has put Loksa Shipyard Ltd. in Estonia up for sale as part of an ongoing efficiency drive.
   The Estonian yard joined the Odense Steel Shipyard Group in 1994 and is one of the biggest manufacturers of hatch covers in the world. It also produces steel structures and components.
   'It is no secret that we are in a difficult situation,” said Finn Buus Nielsen, managing director of Odense Steel Shipyard. “Therefore, we continue to work hard on strengthening the yard's productivity and competitiveness. Selling Loksa Shipyard will give us the opportunity to concentrate on shipbuilding at Lind' and develop our subsidiary shipyard Baltija Shipbuilding Yard in Lithuania that builds superstructures and steel blocks for Lind'.”
   The Maersk company added that a sale of Loksa Shipyard won’t have any impact on the current or future newbuilding program at Lind'.
   Danske Markets is acting as Odense Steel Shipyard’s financial advisor in the sales process.