Wärtsilä Marine  Wärtsilä Marine (; ) 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. During the 1970s and 1980s the European shipbuilding suffered of a too high capacity and unhealthy competition. The Asian shipbuilders had grown fast and taken over a large part of the market. Combination of increasing salary costs and price dumping lead to an untenable situation for many European shipbuilders. Swedish shipbuilders had faced difficulties already in the 1970s and the yards had been kept alive through massive subsidies. Due to Soviet exports, the Finnish shipbuilders were working in a fairly good level until the 1980s. The five-year-plan of 1981–1985 guaranteed the vital basic load for the Finnish yards, but the plan of 1986–1990 meant the end of the golden era for the Soviet export. The Soviets negotiated very low prices for the few ships included in the plan, and the ordered quantity remained even much lower. The ships made for Soviet Union had been included in the bilateral agreement between the two countries and it was getting out of balance, as the Soviet export to Finland reduced drastically. In order to maintain the employment in its shipyards the Finnish government decided to deliver the ships to Soviet Union for credit. In 1986 the two main shipbuilders of Finland, Wärtsilä and Valmet, agreed about putting together their shipbuilding business units and close the least competitive ones, which meant the Valmet yards. As a part of the reorganisation Wärtsilä separated its diesel engine building operations in Turku and Vaasa from the shipbuilding organisation to a separate business unit, Wärtsilä Diesel Oy. The ownership of the new shipbuilding company was shared so that 30% went for Valmet and 70% for Wärtsilä. Wärtsilä's paper machine industry was moved to Valmet as a payment. At the beginning the state gave a FIM 700 million tax relief. The number of employees had been gradually reduced by the 1980s. The Perno shipyard in Turku offered an early retirement for personnel of aged 56 years and over. The new company was started officially at the beginning of 1987. The name of the company was "Wärtsilä Meriteollisuus Oy" in Finnish, "Wärtsilä Marinindustri Ab" in Swedish and internationally was used name "Wärtsilä Marine".