Meyer Werft has announced that has acquired a majority interest in the STX Finland shipyard in Turku. Following weeks of negotiations, the Finnish government and Meyer signed a share purchase agreement with the current owner STX Europe, giving Meyer a 70 percent stake.

At present some 1,300 employees and a supplier network are involved in the construction of the Mein Schiff 4 for TUI Cruises. TUI announced today another order for two ships of this class to be built in Turku.

The move concentrates most cruise ship newbuilds among just three yard companies: Fincantieri, Meyer and STX France.

The acquisition is still subject to clearance by the antitrust authorities and banks. The plan is to rename the company STX Finland Oy to Meyer Turku Shipyard Oy.