Genting HK to pump $150m into 3 shipyards
GENTING Hong Kong will invest 100 million euros (S$148.8 million) in a group of three shipyards that it acquired in Germany in April.
Genting Group's chairman and chief executive, K. T. Lim, said the money will go towards funding facilities such as the modernisation of manufacturing control systems and new executive and employee offices.
The three yards acquired in April, to be named MV Werften, will focus on building large new ships, said a Genting Hong Kong press release.
Mr Lim also announced the appointment of Jarmo Laakso, who has more than 35 years' experience in building passenger ships, as the managing director of MV Werften.
He worked for Meyer Werft from 1998 to 2004 and Royal Caribbean International from 2005 to 2015.
MV Werften will deliver the first of four luxury Crystal River ships next year, the first of a series of 20,000 gross tonne Crystal Endeavor Class polar expedition yachts in 2018, and the first of a series of 201,000 gross tonne Star Cruises Global Class cruise ships by 2020.
The planned annual output will be stepped up in future to eventually build two Neo-Panamax cruise ships of over 200,000 gross tonnes each and one Panamax cruise vessel.
"We will build on the strength of the 1,400 employees of MV Werften," said Mr Laakso.
"We have hired and are still hiring more people with cruise shipbuilding experience who, with the current workforce, will make MV Werften one of the most efficient and innovative cruise shipbuilders in Europe."
THE BUSINESS TIMES