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2008 March 31   06:56

Finland PM considers state stake in shipyards

The state of Finland could become a part owner in shipyards to ensure that shipbuilding remains in the country, Prime Minister Matti Vanhanen told national broadcaster Yle. "We have a great interest in keeping especially the cruise ship knowledge in Europe," Vanhanen told Yle news late on Friday.
"If there were an alternative where it would be expected that the state would invest permanently or temporarily in the industry, we would consider that."
Norway's Aker Yards owns three shipyards in Finland, which specialise in building cruise ships and ferries.
Korean STX Shipbuilding has made an offer for a controlling stake in Aker Yards and unions have feared this could lead to job cuts at European yards as work would go to Asia.
Politicians in Italy and in France, where Aker Yards bought the Chantier de l'Atlantique shipyard in 2006, have been reported to be worried about losing European control of shipbuilding.

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