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Staying independent,
keeping jobs in Finland,
allowing growth
opportunity.
were increasingly moving the shipbuilding
industry to Asia.
By considering these three factors, the
planning was based on three major goals:
continuing Deltamarin’s existing operations
as they were and so that the business
would remain independent, keeping jobs in
Finland and simultaneously allowing growth
opportunity for the company as a long-term
solution.
Various options were developed and
evaluated within three years and meetings
were arranged with several equity investors
and industrial operators. The majority of
the owners were reluctant to accept equity
investors whose preference was rather to
look for a rapid exit than continuous longterm
development of the company. Hence,
deeper discussions continued with industrial
operators.
The rapid growth of shipbuilding in Asia
tempted several local companies to
extend their businesses globally and to cover
maritime industries. One of those was AVIC,
Aviation Industry Corporation of China, a
globally operating conglomerate, which had
increased its focus on the maritime branch
by establishing a stock-listed dedicated
company, AVIC Industrial Maritime Holdings
Ltd (AIMH) in Singapore in 2011. The
basic idea of that new company was to
provide shipowners with a complete solution
including ship financing, ship engineering
and shipbuilding by mainly focusing on global
customers in niche areas of special and ropax
vessels.
Lengthy discussions with AVIC about
their plans and operation principles gave
confidence that all Deltamarin targets could
be best fulfilled together with this company.
All Deltamarin shareholders accepted and
signed the deal, which was finally completed
in January 2013. Deltamarin became a part
of the AVIC Group. After the deal, former
Deltamarin shareholders still working with
the company, maintained a total of 20%
indirect ownership in Deltamarin. That was
accomplished through a holding company
established in Singapore.
Deltamarin´s existing operations continued
as they were and the business remained
independent as planned, keeping jobs in
Finland. The name and brand of Deltamarin