Davie Arctic Shipbuilding is gaining momentum in Europe as Canadian shipbuilder Davie confirms its takeover of the Mäntyluoto shipyard in Pori, Finland. The move expands its Arctic operations and strengthens its production chain between Canada and Northern Europe. It is a strategic shift aimed at anchoring long-term manufacturing capabilities across the Arctic shipbuilding sector.
The deal is valued at 7.5 million euros. Davie will pay 5 million euros upfront, with the remaining 2.5 million due six months after closing. The full transaction is expected to be completed before the end of September 2025.
Mäntyluoto yard was previously operated by Enersense Offshore. Around 100 employees are tied to the site, most of whom are currently on furlough. According to official confirmation, all personnel will remain under the new ownership once the deal is complete.
This is Davie’s second major move in Finland. Earlier, the company acquired the Helsinki Shipyard. These two sites will now work together as a tightly linked production line focused on Arctic-class vessels.
Once the Mäntyluoto yard is integrated, Helsinki Shipyard will become the only shipyard in Finland capable of handling the entire shipbuilding process from start to finish. That includes everything from planning and design to final delivery. Steel production at Mäntyluoto will feed directly into the Helsinki operations, forming a continuous and efficient production flow.
The timing aligns with a significant contract Davie received from the Canadian government in March. The deal involves constructing the hull of a heavy-duty icebreaker. Steelwork for the ship will begin in Pori and continue with assembly in Helsinki by August. Final delivery will take place at Davie’s Canadian facility.
James Davies, CEO of Davie, emphasized the broader impact of the agreement. He called it a vital boost for Arctic shipbuilding, not just for Davie but for Finland’s entire marine engineering sector.
He explained that this move locks in a secure supply of steel for several essential future projects. It also helps protect skilled jobs and ensures operational consistency for Davie’s partners and clients.
“This acquisition gives us a long term production foundation in Finland,” Davies said. “It secures the tools we need to deliver on major Arctic shipbuilding projects while keeping local expertise in play.”
With the Mäntyluoto yard now under its belt, Davie is positioned as a dominant player in Arctic marine manufacturing. The company is investing not only in facilities, but in talent, long term partnerships, and the future of northern shipbuilding.
