French shipbuilder STX France has decided to sell its Lorient shipyard to Kership, a joint venture company set up by French companies DCNS and Piriou in 2013.
STX France said the decision was based on strong commercial setbacks and that the take-over should take place in fall this year.
While the arguably most prominent naval vessel STX France built was the 199-meter Mistral-class ship, the Lorient site was specialized in the construction of ships up to 100 meters in length.
The company said it had considered two proposals for the yard – one by Constructions Mécaniques de Normandie (CMN) and the other one by Kership.
DCNS welcomed the acquisition saying that it reinforces the consolidation of the French naval shipbuilding industry.