Finland pumps €80m into Meyer Turku to overcome Ukraine war impact
The European Commission (EC) has granted an €80m Finnish recapitalisation measure for shipbuilding company Meyer Turku to offset the financial hit from Russia’s invasion of Ukraine. This measure aims to address the national shipyard’s liquidity challenges
The Meyer Turku shipyard
Brussels – The European Commission (EC) has granted an €80m Finnish recapitalisation measure for shipbuilding company Meyer Turku to offset the financial hit from Russia’s invasion of Ukraine.
This measure aims to address the national shipyard’s liquidity challenges, which worsened due to the existing geopolitical crisis and related cost increases. Provided in the form of a hybrid equity loan, the measure will help strengthen the solvency of Meyer Turku and its smooth operations.
It is said to be essential from “both an economic and social perspective in light of the interaction of Meyer Turku Oy’s operations with a sizeable value chain in the Finnish economy.”
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