Turku’s STX shipyard is expected to receive a new owner by the end of June. Prime Minister Katainen denies that the early public announcement of the sale is politically motivated.

According to Prime Minister Jyrki Katainen (National Coalition Party), state involvement in the ownership of STX’s Turku shipyard is difficult to avoid.

Prime Minister Katainen told Yle’s Radio Suomi that the government could, over time, sell its stake to private owners if the planned buyout took place. The State of Finland and German cruise liner builder Meyer Werft are considering the purchase of STX Finland's Turku operations from the current Korean owner.

“The state’s central goal is not to own the shipyard or to be a shipbuilding entrepreneur,” says Katainen. “But if the shipbuilding business in Finland is to be seen as competitive in the future, then the central goal is that it should be possible. As a result we are ready to take part as a minority shareholder.”

According to Katainen, the State's participation will depend on finding a private industrial majority shareholder. He says that Meyer Werft, or any other similar firm could be considered.

Katainen denies that the upcoming race for NCP leadership had a bearing on the early publication of the letter of intent related to the sale.

“These issues can''t be politicised,” said Katainen.

*NEWS SOURCE