Meyer Turku an Economic Engine for Finland

The Costa Smeralda under construction at Meyer Turku

The Meyer Turku shipyard has reported that the revenue generated by the production of the yard and the production of its direct supplier companies has reached 1.9 billion euros, which it said corresponds to a growth of 46 percent compared to 2016.

Citing a study by the University of Turku, the shipyard said the value of supply orders has almost doubled in two years (+ 84%) and was approximately 933 million euros in 2018 compared to 508 million euros in 2016.

The value of domestic supply orders for Meyer Turku increased by 64 percent to approximately 638 million euros, while the value of foreign supply orders increased by 150 percent to approximately 295 million euros.

Despite the differences between domestic and foreign supply orders, the amount of supplier companies has remained nearly unchanged, the yard said. In 2018, the shipyard had a total of 1,246 direct supplier companies out of which 927 were domestic and 319 were foreign.

Outside of Finland, Germany was the largest supply country with 72 percent of the value of foreign orders.

The growth of the production from Germany was attributed to the FERU (Floating Engine Room Units) for cruise ships built by the Meyer yard in Rostock.

Meyer Turku is the fourth largest employer in Southwest Finland after the City of Turku, the University of Turku and Valmet Automotive. Meyer Turku is the second largest industrial employer.

The activity of the shipyard employs directly about 4,100 persons, plus the employment by the various subcontractors and suppliers.

Typically for cruise ships, the shipyard represents about 20 percent of the productions process and the remaining 80 percent by the supplier network.

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