 Arctech Helsinki Shipyard was established as a joint venture between STX Finland, a subsidiary of STX Europe, and the Russian state-owned United Shipbuilding Corporation (USC).The new shipbuilding company started its operations at the Hietalahti shipyard on 1 April 2011.On 28 October 2013, it was reported that USC was going to buy the remaining shares from STX Europe and become the sole owner of the company.