EMCC European Monitoring Centre on Change

Meyer Turku

Company/Organisation:
Meyer Turku

Geographic Location

Country: Finland
Region: Varsinais-Suomi; Etelä-Suomi; Manner-Suomi
Location of affected unit(s): Turku

Company

Sector: Manufacturing
Manufacture of transport equipment
30.1 - Building of ships and boats
Number Employed: 1850

Employment Effects

Announcement Date: 10-05-2017
Type of Restructuring: Business expansion
Foreseen End Date: 31-12-2018
Planned Job Creation: 500

Additional Information

Meyer Turku, owner and operator of the Turku Shipyard, is expanding, recruiting 500 new employees during 2017 and 2018. The reason for the expansion is a new contract for the US based company Carnival Corporation worth approximately €1.6 billion. Two new cruise ships will be built at the Meyer Turku shipyard over the upcoming years. The two ships are due to be completed in 2020 and 2022. Meyer Turku made a profit of €25 million for 2016, all of which has been reinvested in the shipyard to facilitate the expansion. 

Meyer Turku claims to in total, directly and indirectly through subcontractors, employ approximately 7,000 individuals in the Turku region. The company aims to increase this figure to 20,000 employees in a few years.

The ERM has previously reported on the expansion of Meyer Turku's operations in September 2016 when the company announced the recruitment of 350 new employees.