Estonian yard grinds to a halt
01 Feb 2010
Estonia’s Loksa Shipyard, formerly part of the Odense Steel Shipyard Group, announced 525 job cuts last week, staggered from February to April, including all but two of the board members.
With no orders since the second quarter of 2009, it seems unlikely that the company will be in a position to rehire the workers. The yard specialises in the manufacture of hatch covers and ship blocks.
