Severnaya Verf OJSC (SV shipyard, Saint Petersburg) has finalized the deal on purchase of 38.36% of shareholding of Mashinostroyeniye Severnoi Verfi (Saint Petersburg) specializing in production of goods for building ships and vessels of all classes, RBC reports. The deal is said to be costing 40.67 million rubles.
Severnaya Verf is located at the entry to the sea canal of the Gulf of Finland. The shipyard's facilities including covered slip with four construction sites and hoisting equipment with a floating dock enable construction and repair of different ships and vessels according to the requirement of all classification societies. In 2005, the company’s IFRS revenue totaled $471 million. Rosimucshchestvo (Federal Property Management Agency) holds 20.96% of the company’s shares, International Industrial Bank CJSC – 72.23% (nominal title).