Aker Arctic deal keeps ice technology in Finland

Finnish Industry Investment has acquired a 66.4% stake in Aker Arctic Technology Oy from STX Finland for Eu 9.3 million ($13 million).

Offshore staff

HELSINKI, Finland – Finnish Industry Investment has acquired a 66.4% stake in Aker Arctic Technology Oy from STX Finland for Eu 9.3 million ($13 million).

Aker Arctic is a specialist in Arctic marine logistics and offshore/Arctic vessels design. Its other shareholders ABB Finland and Aker Engineering and Technology will each retain a 16.8% interest.

Finland’s Ministry of Employment was keen to keep the company’s expertise and activities within the country, to safeguard the Finnish Arctic marine industry’s future development.

Aker Arctic’s achievements include theoblique icebreaker concept, currently under construction at Arctech Helsinki Shipyard. It is also involved in logistic solutions off northwest Russia and in the design of a new polar icebreaker for Canada and China.

Since 2006, the company has operated an ice model testing facility in Vuosaari, Helsinki, where studies include work on icebreakers and offshore structures for ice-covered waters.

It is also in talks to use Aalto University’s 40 x 40-m (131 x 131-ft) ice testing facility.

12/23/2013

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