STX Finland, the deeply loss making unit in the STX Europe group in Oslo that again is part of STX Offshore & Shipbuilding, headquartered in Seoul in South Korea, aims to secure the future of the company, not its individual yards.

“The Finnish shipbuilding industry faces inevitable changes. STX Finland searches for solutions to secure the future of the entirecompany, not individual shipyards, deputy md Jari Anttila said in a statement,

The company has a yard in Turku and another one in Rauma. It has two cruise liners on order from TUI Cruises in Germany and an initial contract with Scadlines, the Danish-German ferry company that is controlled by the UK based private equity fund 3i, to build two ferries.

Media reports in Finland say that he Rauma yard that employs about 750 staff could be closed. The company has not commented on the rumours.