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Events on October 23 in history

1989Oct, 23

Bankruptcy of Wärtsilä Marine; the biggest bankruptcy in the Nordic countries until then.

Wärtsilä Marine (Finnish: Wärtsilä Meriteollisuus; Swedish: Wärtsilä Marinindustri) was a Finnish shipbuilding company.

The company was created in 1987 in order to improve shipbuilding productivity by combining the Wärtsilä and Valmet yards under the same organisation. The yards were located in Helsinki and Turku. The company fell in a scandalous bankruptcy in 1989.

The operation was continued after under name Masa-Yards.

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Events on 1989