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September 7, 2017

Meyer Turku to increase investment in infrastructure

Finnish shipyard Meyer Turku is set to increase investment in its infrastructure capabilities from the previously announced sum of €75m to €185m.

Finnish shipyard Meyer Turku is set to increase investment in its infrastructure capabilities from the previously announced sum of €75m to €185m.

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New profile-cutting and panel lines will be added to the shipyards' steel halls as part of the latest investment, which will require a level of expenditure that is more than double the amount specified in an earlier announcement.

The new infrastructure is slated to be ready for use by the end of next year or early 2019.

The additional facilities are expected to improve the shipyard's steel production capability in order to fulfil Meyer Turku’s backlog of outstanding orders, which currently reaches to 2024.

Additionally, the investments will enable the company to feature laser-hybrid, digitally controlled welding technology at its production yard.

Meyer Turku steel production head Mika Heiskanen said: “We are rebuilding Turku shipyard into a modern ship assembly factory.

"After these investments we will have one of the world’s most modern steel productions that will enable the ramp-up of our production."

“After these investments we will have one of the world’s most modern steel productions that will enable the ramp-up of our production.”

The investments form part of Meyer Turku's long-term plan to increase the shipyard’s production to three times more than the value produced by the yard in 2014.

Finland-based Pemamek will provide the new plate-cutting and profile-cutting lines from its site in Loimaa.

Meyer Turku CEO Jan Meyer said: “For the shipyard, this will be a giant leap forward to prepare for the increasing international competition.

“We really need these investments, along with the full and stable work effort of our shipbuilding teams, to fulfil the promises we have made to our customers.”

Meyer Turku initially announced a plan to increase the company's investment in its production capability to €75m in August last year.

The investment included the development of a new steel storage and pre-treatment facility.

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Free Report
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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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