Sun, 08 Feb, 2015 12:02:54 AM FTimes – STT Report, Feb 8  Arctech Helsinki Shipyard shipyard. File Photo – Lehtikuva. Arctech Helsinki Shipyard will be sidelined when the Navy decides on acquisition of new warships in the next few years, reported Hufvudstadsbladet, a Swedish language daily in Finland on Saturday.
According to the newspaper's sources, the ships cannot be built in Helsinki because the shipyard is owned by a Russian state-owned company.
The Navy will be replacing seven warships within the next decade and is currently looking for participants in a billion Euro shipping order.
According to the newspaper, the Navy has been in contact with shipping companies and shipyards.
Juha Vauhkonen, the Chief of Staff at Navy Command said there has been no discussion with Helsinki Shipyard regarding the ship building order.
According to the assessment of the Chair of the Parliament's Defence Committee, Jussi Niinistö, and the newspaper's official sources, the issue of Russian ownership of the Helsinki Shipyard will hardly be of relevance.
Companies can be ignored on the basis of national security when it comes to defence acquisitions.
On December 30, 2014, Arctech Helsinki Shipyard announced that it has become 100 per cent Russian owned as United Shipbuilding Corporation (USC) bought the remaining half of its company shares from STX Finland Oy.
The United Shipbuilding Corporation USC is in the US list of US sanction entities.
Arctech Helsinki Shipyard Inc was founded in December 2010 following USC’s acquisition of 50% of the shipyard shares from STX Finland, a subsidiary of the Korean-owned STX Europe.
The joint venture was established to respond to the need of the growing market of Arctic shipbuilding and to unite the Finnish and Russian maritime clusters.
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