Thu 13 Dec 2018 01:52:00 PM EET
Meritaito Ltd, the leading Finnish marine survey service and infrastructure management company, will become a fully owned subsidiary of the icebreaking and maritime services company Arctia Ltd. The Finnish Government decided on the company reorganization today, 13 December 2018. Together the companies will be able to offer their customers an even more comprehensive range of marine services both in Finland and overseas. More diversified services will improve competitiveness in the constantly tightening international market.
The reorganization aims to improve business opportunities and profitability and to strengthen international business operations. Together Arctia and Meritaito will provide even more extensive services in challenging conditions in ports, sea areas and inland waterways both in Finland and overseas. In addition to services in icebreaking and ice management, as well as fairway maintenance and marine survey, the tasks of the new Arctia include, e.g. pipeline and cable laying, towing and harbor icebreaking, support in the installation and maintenance of underground structures, oil spill preparedness and recovery, port design, and the manufacture of buoys and other navigational aids.
Both companies have significant ongoing projects to improve cost competitiveness. The success of these projects is a basic requirement for competitiveness also in a company that offers wider service entities. All ongoing efficiency measures will be continued and the possibility of combining them is being investigated.
“Arctia and Meritaito will be even stronger together. We will be able to safeguard the operations of industrial and maritime actors in the Baltic Sea, in Finland’s inland waterways and in all challenging seas worldwide with an even broader approach. Our employees are among the best in the world in their respective fields of expertise, and they will play a key role in the expansion of services," says Arctia's President and CEO Tero Vauraste.
“Our services cover all Finland’s territorial waters from the north to the south. We make use of the possibilities offered by new technologies for the needs of our customers,” emphasizes Meritaito’s CEO Hannu Ylärinne.
A decision on the company reorganization was made in the Government’s plenary session on 13 December 2018. As a result of the reorganization, Meritaito will become Arctia’s fully owned subsidiary. The existing contracts of both companies will continue, and the business IDs, account information and contact information will remain unchanged.
President and CEO Tero Vauraste, Arctia Ltd.
CEO Hannu Ylärinne, Meritaito Ltd.
Interview requests, media contact point:
Communications Manager Eero Hokkanen, Arctia Ltd.
tel. +358 46 876 7140
Mr Hannu Ylärinne has been appointed Chief Operating Officer (COO) and Executive Vice President of the Arctia Group as of 20 May 2019. He will also continue as CEO of Meritaito Ltd, which is part of the Arctia Group.
Maunu Visuri, M.Sc. (Tech.), has been appointed as the new President and CEO of Arctia Ltd as from 1 August 2019.
The European Commission has granted CEF funding to the Intelligent Sea project coordinated by Meritaito Ltd. The funding is 1,5 million Euros.
Oceaneering has innovated a total new approach for the maintenance of submerged pipelines and installations. The basic principle is to minimize the use of expensive support–vessel and use remote operated EROV-systems for the maintenance. The SeaHow EROV-buoy serves as the floating station for the communication antenna.