The municipality of Rauma in Western Finland has signed an agreement whereby it buys the land, buildings and non-fixed assets at the Rauma shipyard of STX Finland for €18.1 million. The municipality and the shipbuilder also signed a two year agreement under which the area will be developed further. The shipbuilder will lease the facilities up to the end of June to ensure completion of remaining work. STX Finland announced the closure of the Rauma yard last year, with the loss of some 700 jobs.