Esko Mustamäki appointed as the Managing Director of ARCTECH Helsinki Shipyard Oy

ARCTECH Helsinki Shipyard Oy is a joint venture established in December 2010 between STX Finland Oy and United Shipbuilding Corporation. Esko Mustamäki has been appointed as the company's  managing director. He has previously been working as the CEO of Finstaship and FG-Shipping Oy (part of Finnlines Group). Mustamäki starts at his position immediately.

ARCTECH Helsinki Shipyard will focus on arctic maritime technology and building highly spezialized vessels such as icebreakers and other icebreaking special vessels, and it will combine the Russian and Finnish Maritime clusters. The company employs about 400 people which are currently working on two multifunctional icebreaking supply vessels that are ordered by Sovcomflot, the biggest shipping company in Russia. The value of the order is USD 200 million and the projects will provide work for 1000 man-years. The design and procurement functions have already started, and the production phase at the shipyard will start during autumn 2011. The vessels will be delivered during spring 2013.

"Although ARCTECH Helsinki Shipyard is a newly established company, the yard has one of the world's most extensive experience in the building of icegoing special vessels. The yard is very well positioned to deliver these kind of ships for the needs of arctic seas in the future. The growth of the global energy demand will increase the oil- and gas production of the arctic offshore areas, which will lead to extensive investments in both ships and equipment. We want to have our slice of this market", Esko Mustamäki, Managing Director of ARCTECH Helsinki Shipyard Oy comments.


Additional information:

Mr. Sujou Kim,  Chairman of STX Finland Oy,  tel. +358 10 670 2204

Mr. Esko Mustamäki, Managing Director of ARCTECH Helsinki Shipyard, tel. +358 50 411 5323

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ARCTECH Helsinki Shipyard Oy is a joint-venture company, which is 50/50 owned by STX Finland and United Shipbuilding Corporation. The company, employing approximately 400 persons, will focus on arctic maritime technology and shipbuilding and will unify Russian and Finnish Maritime clusters.

STX Finland Oy has three shipyards in Finland, Turku shipyard, Rauma shipyard and ARCTECH Helsinki Shipyard Oy, of which STX Finland Oy owns 50%. STX Finland's subsidiaries include Aker Arctic Technology Oy and STX Cabins Oy, among others. The company belongs to the STX Europe Group, an international shipbuilding group with a product range including passenger ships, ferries, offshore services vessels and specialized vessels. STX Europe has approximately 15,000 employees.

STX Europe's principal shareholder, the Korean based international industrial group STX Business Group, has approximately 54 000 employees and aims to be a global top player in its core areas; shipping and trade, shipbuilding and machineries, plant and construction, and energy.  

United Shipbuilding Corporation is the state owned Russian shipbuilding corporation, which was formed in 2007. The company has 42 shipyards in Russia and it focuses on developing the Russian civilian and military shipbuilding industry.

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