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Chantier Davie Canada exercises option to purchase Helsinki Shipyard


Helsinki, Finland – Chantier Davie Canada Inc. of Lévis, Quebec has announced the exercise of its exclusive option to purchase the assets of Finland’s Helsinki Shipyard Oy (HSO) in a move aimed at creating a leading international hub for Arctic shipbuilding.

Exercising the option to purchase does not mean an acquisition is completed. It is subject to the successful execution of thorough due diligence, including financial, regulatory and legal considerations, as well as final decision making by Davie, stated a press release.

Davie President and CEO, James Davies, said: “If the acquisition is successful, it would combine two historic and highly complementary businesses creating the western world’s leading international centre of excellence for Arctic shipbuilding.”

The ongoing process is otherwise confidential, and Davie will make further comment only upon reaching a major milestone such as the signing of a purchase agreement.

Helsinki Shipyard Oy has a long-standing history of expertise in constructing specialized vessels particularly suited for navigating demanding Arctic conditions, including icebreakers, research vessels, and passenger ships.

Davie is presently negotiating an umbrella agreement with the Canadian government to become the third strategic shipbuilding partner in  the National Shipbuilding Strategy (NSS). Davie will focus on non-combat vessels and has been earmarked to construct six icebreakers and one polar icebreaker for the Canadian Coast Guard.

(Dreamstime photo of Helsinki Shipyard)