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September 1, 2008

Lindø to sell Estonian yard

Maersk's Odense Steel Shipyard Ltd. A/S (Lindø) has put Loksa Shipyard Ltd. in Estonia up for sale.

Loksa Shipyard became part of the Odense Steel Shipyard Group in 1994 and is now a leading manufacturers of hatch covers. In addition, it produces steel structures and components.

However, says Lindø, ownership of the Estonian yard will not be necessary for the expected future production at Lindø and a sale will give Lindø the opportunity to focus fully on shipbuilding and enhancing productivity."

"It is no secret that we are in a difficult situation. Therefore, we continue to work hard on strengthening the Yard's productivity and competitiveness. Selling Loksa Shipyard will give us the opportunity to concentrate on shipbuilding at Lindø and develop our subsidiary shipyard Baltija Shipbuilding Yard in Lithuania that builds superstructures and steel blocks for Lindø," says Finn Buus Nielsen, Managing Director, Odense Steel Shipyard Ltd. A/S.

Ship repair activities at Loksa began in 1905. Until the end of the 1970's, Loksa Shipyard was developed as a ship repair yard able to repair vessels with maximum length of 115 m and around 4,000 tons dwt. During the 1960's and -70's the shipyard built and put into operation new workshops as well as 560 m of quays, which are equipped with cranes, lifting capacities from 10 to 25 tons, a 100 t gantry crane.

A 4000 t floating dry dock, a 30 m floating crane and several tugs were added and the yard also operated steel processing and assembly facilities, a pipe shop, a carpenter's shop, a shop for electrical installations.

In 1986 a new production hall for building LASH-barges was put into operation. During 1986-1991 over 600 LASH-barges were built at Loksa Shipyard.

With the regained independence of Estonia in 1991, the yard had to search for alternative customers. In 1992, it began production of hatch covers and tween-deck covers for ships built at German, Danish, Swedish and Russian shipyards.

In 1994 Loksa Shipyard became a part of Odense Steel Shipyard Group. The development and production of hatch covers and steel structures for the Danish yard was followed by comprehensive renovation of the facilities and installation of advanced production equipment.

Over the past decade investments have been made in new production facilities and renovation of old ones together with the acquisition on up-to date production equipment. As the production of block for new building increased the repair facilities were scaled down and finally closed in 2004 with the sale of the floating dock.


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