US EditionThe State Becomes the Majority Owner of the Uusikaupunki Car Factory – the Downturn in the Automotive Industry Drove the Factory Into the Arms of the State
6 Articles
6 Articles
The financing solution aims to ensure the preservation of specialized expertise in industrial contract manufacturing in Uusikaupunki and Salo.
Perhaps in the future, the Uusikaupunki car factory will assemble armored SUVs, writes Iltalehti's Mika Koskinen. On Monday, the state made a significant move to strengthen the Finnish defense industry and thereby Finland's defense. The state will become the main owner of Valmet Automotive, which has been operating in Uusikaupunki since 1968. At the same time, the Uusikaupunki car factory, known for its Saab, Porsche and Mercedes cars, is expand…
The state capital will be used to the tune of approximately 120 million euros. As a result of the arrangement, the state owns 79 percent of the company. The company's strategy will be updated to serve, among other things, the needs of the defense industry.
The state capital used is approximately 120 million euros.
Chinese company CATL is selling its 20 percent stake in Valmet Automotive.
The state capital will be used to the tune of approximately 120 million euros. As a result of the arrangement, the state owns 79 percent of the company. The company's strategy will be updated to serve, among other things, the needs of the defense industry.
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