Davie agrees to buy Helsinki shipyard

2023-04-14T20:04:26+00:00 April 14th, 2023|Ships|

Chantier Davie Canada Inc (Davie) has exercised its exclusive option to purchase the assets of Finland’s Helsinki Shipyard Oy (HSO) (pictured).

The purchase is still subject to the successful execution of thorough due diligence, including financial, regulatory and legal considerations, as well as a final decision by Davie.

Davie President and CEO, James Davies, said: “If the acquisition is successful, it would combine two historic and highly complementary businesses creating the western world’s leading international centre of excellence for Arctic shipbuilding.”

Based in Québec, Canada since 1825, Davie is a builder and maintainer of specialist icebreakers, warships and ferries for the Canadian Government and commercial customers.

It is Canada’s largest and highest capacity shipbuilder, as well as a partner in the country’s National Shipbuilding Strategy under which it will build a fleet of advanced, fuel-efficient Polar icebreakers and hybrid ferries.

HSO has recently built three Polar class expedition cruise ships for Swan Hellenic, the last and largest of which, ‘SH Diana’ was delivered on 31st March.