Successors
In the mid-1970s, Wärtsilä built a new, larger shipyard in Perno, 8 kilometers (5.0 mi) from the center of Turku. This new shipyard in now operated by STX Europe and produces the world's largest cruise ships, the Freedom class and the Oasis class. After 1984 the old shipyard concentrated solely on ship repair; the last newbuilding was launched in 1976.
In 1986 Wärtsilä's shipbuilding branch merged with the shipyards of the state-owned Valmet, taking over the Vuosaari shipyard in Helsinki. In 1989 the new company, Wärtsilä Marine INC, went bankrupt.
A new company, Masa-Yards (now STX Europe), headed by yard manager Martin Saarikangas, took over the new shipyard in Turku and Wärtsilä's Helsinki New Shipyard.
Another new company, Turun Korjaustelakka Oy, now Turku Repair Yard Ltd, was established to take over the old repair yard. In 2004 the old yard was abandoned and the company moved to a new shipyard outside the city limits on Luonnonmaa island in Naantali. The company now operates one of the largest dry docks in the Baltic Sea area used solely for ship repair. It is owned by BLRT Grupp.
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