Fincantieri and Damen linked with STX France takeover

Fincantieri and Damen linked with STX France takeover

France’s Le Monde newspaper has identified Dutch firm Damen and Italy’s Fincantieri as two potential buyers of STX France, which is for sale as its parent, STX Offshore & Shipbuilding in South Korea fights for survival.

“Two foreign candidates, Italy’s Fincantieri and Holland’s Damen are fighting over the last big French company of the (shipyard) sector,” Le Monde said, citing several sources.

On Wednesday a French finance ministry source said two potential buyers had emerged for STX France. The yard has a strong track record in cruise shipbuilding.

Another yard that used to be a key part of the STX empire, STX Dalian in northeast China, has failed to find a buyer despite repeated auction attempts.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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