Maersk to sell Baltija shipyard

Posted by editor on 8/12/09 • Categorized as Business, Transport • Print This Post •

Odense Steel Shipyard has announced, that shipbuilding activities at Lindø will be discontinued due to competition from low cost countries from Far East, when all the contracted orders have been fulfilled.

The decision means the holding company (A.P.Moller-Maersk Group) will eventually sell its subsidiaries in Lithuania. These are UAB Baltijos laivų statykla (Maersk owns 99,18% of shares), the main shipbuilding unit in Lithuania, and a specialized desing and engineering company UAB Baltic Engineering Centre (fully owned by Maersk). Both of them employ approximately 1.500 professionals.

According to Viktoras Stulpinas, manager of UAB Baltijos laivų statykla, the company will work further as it has already orders available for future activities.