 On 15 May 2019, Arctech Helsinki Shipyard officially announced the change of ownership of the shipbuilding activities in Finland by the end of the month.In preparation of the transaction, a new shipbuilding company Helsinki Shipyard Oy would be established to take over the assets and operations at Hietalahti Shipyard.It would then be sold to Algador Holdings, a private Russian company owned by Rishat Bagautdinov ja Vladimir Kasyanenko while Arctech, which would remain as a subsidiary of the United Shipbuilding Corporation, would continue shipbuilding operations in Russia as a shareholder of the Nevsky Shipyard.