A.P. Moller - Maersk's Odense Steel Shipyard in Lindo, Denmark, is probably most famous for building the Emma Maersk and seven sister ships, the largest containerships ever built.
But in an announcement on Wednesday, the yard said it is undergoing a reorganization, and while it will continue to build ships, it "will concentrate on producing smaller ships, including, potentially, ships for the offshore area.
"A more specialized shipyard and an offer to external business of using facilities and areas at the yard are the most significant elements of a new business model for the shipyard," the company said.
It said under the new business model, Lindo will operate a shipyard, an industry part and shared facilities.
"A number of external business have shown interest in the new possibilities at Lindo," the shipyard said.
Odense said, "the financial crisis has escalated significantly in recent months and the market for project financing has almost come to a complete standstill. Large parts of the market for newbuildings have collapsed. This has accelerated and increased the necessity for a decision on a new business model.
"At the same time, external businesses are invited to the facilities of the Lindo area for production of heavy steel products. The shared facilities, such as maintenance, workshops and infrastructure, are to be used by both the yard and the external businesses."
Odense Steel Shipyard Ltd. was established in 1917-18 by ship owner A.P. Møller.
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