Davie Completes Purchase of the Assets of Helsinki Shipyard

LEVIS, Québec, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Davie today announced it has finalized the acquisition of the assets of Finland’s Helsinki Shipyard Oy (HSO).

The historic transaction combines the skills, experience and capabilities of two leaders in Arctic shipbuilding and other high-value products. While the Canadian and Finnish shipyard will be separate legal and operating entities, the business headquarters will remain in Québec. The transaction will create opportunities for employees, encourage collaboration, facilitate the transfer of know-how, provide access to resources, and stimulate export potential.

While the details of the business purchase agreement are confidential, the transaction was made possible by a combination of Davie’s own funds and by €77 million ($110 million) of financing from the Québec government consisting of an equity investment of €30 million ($43 million) and a loan of €47 million ($67 million). A significant proportion of the funds will go to ensuring the shipyard has working capital while it gets up and running and secures new business.  

Importantly, the Canadian government has looked favorably on the potential synergies resulting from the transaction for the construction of icebreakers under the National Shipbuilding Strategy.

Together, Davie and Helsinki Shipyard will deliver critical expertise for government and commercial customers. Both shipbuilders, renowned for their leadership and expert knowledge in clean energy solutions, will contribute to the creation of a greener and more sustainable ocean-going fleet.

The completion of the transaction is the culmination of a series of milestones, beginning in December 2022. In March 2023, Davie exercised an exclusive option to purchase the assets of HSO. This was followed in April by the signing of a business purchase agreement, and on July 4 Davie secured a new 50-year land lease from the City of Helsinki.

QUOTES

James Davies, Davie President and CEO, and Co-owner

“We are delighted to bring two historic and highly complementary businesses together. It would not have been possible without the support of Québec, the City of Helsinki, Finland and Canada. We are confident our talented people and world-class supply chain will quickly form the preeminent global centre of excellence for green Arctic shipbuilding, and other specialized products. Empowered by Helsinki shipyard’s unique know-how, Québec can also more efficiently deliver Canada’s polar icebreaker order book, which is the western world’s largest.”

Alex Vicefield, Inocea Chairman and CEO, and co-owner

“Linking together the capabilities, capacity and expertise of the two global leaders in ice-class vessel and icebreaker construction is a strategically important development for the western world. The Arctic is critical for future security, trade, navigation and the environment and Inocea is proud to be at the forefront of this next frontier.”

Pierre Fitzgibbon, Québec Minister of Economy, Innovation and Energy

“The collaboration established through this acquisition will benefit both the Davie Group and its multiple suppliers throughout Quebec. As a result, the Davie Group is well positioned to secure contracts around the world. This is a win-win transaction for both sides of the ocean.”

Jean-Yves Duclos, Canada Minister of Public Services and Procurement

“It is with great pride that we see Davie acquire a world-class shipbuilding jewel, boosting the efficiency of icebreaker and ferry construction as part of the National Shipbuilding Strategy. This acquisition will bring a clear advantage in terms of supply chain cost management through increased purchasing power, while maximizing the long-term economic impact for Canada and the greater Québec City region. Finally, the transaction will also open up new international markets for the local supply chain. This is yet another step towards making the Québec City region a world-class maritime hub.”

Wille Rydman, Finland Minister of Economic Affairs

“Thanks to the new owner, the future of the shipyard and the entire Finnish marine industry looks brighter. It is also very positive for the Finnish state that the change of ownership took place on market terms.”

Juhana Vartiainen, Mayor of Helsinki

“We have gained a strong, stable and competent operator from a reputable country for our shipyard operations. Versatile and vibrant business activity enables the success of Helsinki and enhances the well-being of our people. This is very welcome and happy news for all Helsinki residents.”

Kim Salmi, Managing Director, Helsinki shipyard

“This is the best possible news for Helsinki shipyard, our talented workforce and our supply chain. After months of planning, our top priority is to rapidly return this business to what it does best – designing and building world-class ships quickly, efficiently and cost effectively.”

About Davie

Group Davie is part of the Inocea Group of Companies. It is a privately owned international marine industrial group. It owns Davie Shipbuilding, Canada’s largest and most flexible shipbuilder and a partner in the country’s National Shipbuilding Strategy and Finland’s Helsinki shipyard, the world’s leading icebreaker and ice-class shipbuilder. Together, the companies design, build and maintain mission-critical ships including icebreakers, warships and ferries for government and commercial customers. Find out more at davie.ca

For more information:

Marcel Poulin
Director, External Affairs and Industrial Participation, Davie
Marcel.poulin@davie.ca
+1 581 992-8564



A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8710cb19-8722-46cc-9990-7146f79dedab


Davie Completes Purchase of the Assets of Helsinki Shipyard

THỦ THUẬT HAY

Cách tạo vị trí giả trên Zalo

Cách tạo vị trí giả trên Zalo giúp bạn mở rộng việc tìm kiếm bạn bè, với mẹo này bạn sẽ có thêm những người bạn mới trên khắp mọi miền đất nước chứ không bó hẹp phạm vi như trước nữa

Làm sao để biết người bạn yêu đã like hình ai trên facebook

Mẹo nhỏ sau đây của chúng tôi có thể giúp bạn biết được người yêu hay bạn bè của mình đang quan tâm, like hình của ai trên facebook.

Hướng dẫn xóa lịch sử duyệt web trên Google Chrome

Sau một thời gian dài sử dụng bạn cảm thấy trình duyệt Chrome của mình hoạt động có vẻ trì trệ, tốc độ duyệt web giảm xuống rõ rệt. Vậy phải làm sao bây giờ?

Thêm âm thanh rung trên các phím bấm vật lý của iPhone / iPad

Về cơ bản, Cabello sẽ giúp các phím bấm vật lý trên iPhone / iPad phát ra âm thanh thông báo hoặc rung nhẹ khi được sử dụng, nhằm mang lại khả năng phản hồi xúc giác tốt hơn giữa người dùng và thiết bị của mình, đặc

Ngăn Uber theo dõi vị trí trên iPhone khi không dùng ứng dụng

Để ngăn Uber theo dõi vị trí ngay cả khi không dùng dịch vụ này trên iOS thì phải làm thế nào? Hãy cùng xem chi tiết trong bài viết nhé!

ĐÁNH GIÁ NHANH

Trải nghiệm Chromecast gắn trong trên TV Toshiba UC67

Việc trang bị ChromeCast bên trong TV thay vì trang bị một hệ điều hành giúp chúng ta thao tác nhanh hơn, đơn giản hơn, thân thiện hơn. Lúc này mọi điều khiển sẽ từ chiếc smartphone hay tablet thay vì thông qua cái

Thủ lĩnh hiệu năng Galaxy A03s chỉ 3 triệu, lựa chọn tuyệt vời mùa tựu trường

Thời điểm nhập học của học sinh sinh viên sắp đến, tình hình giãn cách phải học online thì lựa chọn một chiếc smartphone để học tập và giải trí là hết sức cần thiết. Với mức giá chỉ 3 triệu, Galaxy A03s thủ lĩnh hiệu

So sánh iPhone 13 Pro Max và iPhone 12 Pro Max: Có nên nâng cấp không?

iPhone 13 Pro Max sở hữu ngoại hình tương tự iPhone 12 Pro Max khiến không ít người phân vân khi lựa chọn. Trong bài viết dưới đây mình sẽ đi so sánh iPhone 13 Pro Max và iPhone 12 Pro Max để tìm ra sự khác biệt giữa