Arctia sold its 90 per cent share of towing and harbor icebreaking company Arctia Karhu to Boluda Towage Finland, the Finnish subsidiary of Boluda Towage, on March 31.
The Port of Kemi owns 10 per cent of Arctia Karhu shares and continues as minority shareholder. Arctia Karhu operates mainly in the Port of Kemi and Tornio with two vessels and approximately 12 employees.
In connection with the share sale, Arctia said all Arctia Karhu’s operations would continue normally and there would be no personnel impact. Arctia said it would provide support to Arctia Karhu during a transition period.
"We are pleased to find Arctia Karhu a new majority owner with resources and competence to develop the business further,” said Maunu Visuri, CEO of Arctia.
"In the future, Arctia will focus even more on its special assignment in icebreaking, fairway maintenance and marine survey services."
"This purchase is a further step in our consolidation in the Scandinavian market, providing coverage to our customers in the northernmost part of the Baltic Sea, reinforcing our team in Finland with a total fleet of eight tugs operating in the ports of Kokkola, Vaasa, Raahe, Kemi and Tornio,” added Jani Hannula, General Manager of Boluda Towage in Finland.