STX Europe

STX Europe
Industry Shipbuilding
Predecessor Aker Yards
Founded 2004
(as Aker Yards)
(as STX Europe)
Headquarters Oslo, Norway
Key people
In-Sung Lee (Chairman of the board), Su-jou Kim (President & CEO)
Revenue NOK 31,496 million (2008)[1]
Decrease (NOK 561million) (2008)[1]
Profit Increase NOK 40 million (2008)[1]
Owner STX Corporation
Number of employees

STX Europe AS, formerly Aker Yards ASA, was until 2012 a subsidiary of the South Korean industrial chaebol STX Corporation.[2]

With headquarters in Oslo, Norway, STX Europe operated 15 shipyards in Brazil, Finland, France, Norway, Romania and Vietnam. The company had three business areas: Cruise & Ferries, Offshore & Specialized Vessels and Other Operations.

In 2012, with rising outstanding debts, STX retained the Finnish cruise shipbuilding yard and sold the remainder as STX OSV Holdings, (Offshore & Specialist Vessels), including all the yards, to Fincantieri, which renamed the group Vard.

The Turku shipyard was sold, 70% to Meyer Werft and 30% to the Finnish government, in September 2014. Meyer Werft acquired the Finnish government's 30% in April 2015.


Background: before 2006

The evolution of STX Europe originated with the founding of two prominent shipbuilding groups in Europe. One was the Norway based Aker Yards, created in 2004 by combining the shipbuilding activities of Aker and Kværner with the France-based Alstom shipbuilding group, which has shipyards (formerly those of Chantiers de l'Atlantique in Saint-Nazaire) and in Lorient.

Transition to STX Europe, and expansion: 2006 - 2012

On 4 January 2006, Aker Yards and Alstom announced their intention to join forces in shipbuilding and create together one of the world leaders in this industry, focused on high-value-added ships, including world-class cruise ships.[3][4] The merger gave Aker Yards a majority shareholding over Alstom's shipbuilding activities; which included Chantiers de l'Atlantique shipyard - the builder of the iconic cruise liner - the RMS Queen Mary 2.

Aker ASA, the majority shareholder of Aker Yards; reduced its ownership share from 50.4% to 40.1% in January 2007. Aker divested its total shareholding in March 2007, and in October 2007, STX Business Group secured a 39.2% stake of Aker yards. Later, STX took a controlling stake, and renamed the group to STX Europe on 3 November 2008 to reflect the new ownership structure.[5][6]

In January 2009, STX business group acquired the remaining shares in STX Europe and became the company's sole shareholder. In February 2009, it was decided to delist STX Europe from Oslo Stock Exchange where it was previously listed under the ticker STXEUR.


Photo from Wadan Yards in Wismar, Germany, previously partly owned by STX Europe

Cruise & Ferries

The Cruise & Ferries division constructs vessels mainly at shipyards in Finland and France. The business area had revenues of NOK 19,709 million in 2008.

List of shipyards

Cruise + Ferry

Other Operations

OSV (OffShore & Specialized Vessels)

STX Europe has two shipyards in Romania, Braila and Tulcea. The steel hulls for most of STX Europe's new building projects (Offshore & Specialized Vessels) are being built by Braila and Tulcea in Romania. STX Europe's yard in Braila is situated 170 km up the River Danube. Portfolios consist of hull production, delivery of complete merchant vessels together with repair and conversion work. The yard has a 1300m long outfitting quay, facilities for simultaneous mounting or repairing of 12 vessels and equipped with multiple 50 tonne portal cranes. The mounting platform and launching berth have capacity for vessels up to 135 x 23 m and a maximum launching and lifting weight of 2500 tonne and 2200 tonne respectively.

STX Europe's yard in Tulcea is located at nautical mile 39.5 on the right bank of the Danube, upstream of Tulcea, and it is one of the youngest Romanian firms in the field. In Tulcea STX Europe offers services in shipbuilding, conversions and repairs. It has a large covered hall where four ships can be built simultaneously. Over 6000 people working here, it is the greater capacity of offshore and specialised division.



STX Europe :


  1. 1 2 3 4 "Annual Report 2008". STX Europe. Retrieved 2009-03-13.
  2. South Korean shipyards anticipate orders
  3. "Aker Yards and Alstom Marine Complete Transaction". Retrieved 26 July 2012.
  4. "Aker Yards and Alstom Marine plan to join forces". Retrieved 26 July 2012.
  5. STX Europe (2008-11-05). "Aker Yards Changes Name to STX Europe". Retrieved 2008-11-05.
  6. "Aker Yards to be renamed STX Europe". Reuters. 3 September 2008. Retrieved 26 July 2012.
This article is issued from Wikipedia - version of the 4/18/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.