2025-06-12

Työvene acquires Olkiluoto shipyard to increase production capacity

On June 12, 2025, Työvene completed the acquisition of the Olkiluoto shipyard from Aslemetals Oy. This transaction includes the shipyard along with all buildings and equipment on the property. The land lease agreement will also be transferred as part of the purchase.

– This is an important investment in our shipyard business that will greatly increase our new building capacity and enable us to expand our repair operations, said Juha Granqvist, Managing Director of Uudenkaupungin Työvene – a subsidiary of Summa Defence Group – and continues:

– The Olkiluoto facility, combined with Summa Defence’s strong financial position, provides us the opportunity to grow our production volume to levels that would not have been achievable with our current facilities and balance sheet. We plan to make substantial investments in the Olkiluoto facilities and equipment this summer and early autumn, with production expected to begin shortly. Our Uusikaupunki shipyard will also remain very active in the coming years, and there are no plans to transfer production from there to Olkiluoto.

Jussi Holopainen, CEO of Summa Defence Group, also stated:
– The subsidiaries of Summa Defence have a strong order book, totaling approximately 200 million euros. With the financing and support from the Summa Defence Group, we can quickly scale up production and elevate our output to a completely new level.