USC to complete the sale of its shares in Arctech Helsinki Shipyard until the end of July 2018

United Shipbuilding Corporation (USC) is going to complete the transaction on selling a parcel of its shares in Arctech Helsinki Shipyard (Finland) before the end of July 2018, USC President Aleksey Rakhmanov said when answering the question of IAA PortNews. 

According to him, the negotiations have been completed successfully. The shares will be acquired by Kermas, a company holding shipbuilding assets in Croatia. 

USC plans to retain control of 45% of the Finnish shipyard’s shares.

Arctech Helsinki Shipyard specializes primarily in building icebreakers and other Arctic offshore and special vessels. Before being consolidated by United Shipbuilding Corporation (USC) in 2014 it was 50/50 owned JV of USC and South Korea’s STX.