Largest shipyard Lindø due to close

The business daily Børsen reports that Lindøværftet, Denmark's largest shipyard, which has been struggling to maintain its market share in the face of stiff competition from China and South Korea, will shortly close. Located in Odense, the Lindø currently employs 2,500 people. However, taking into account the its numerous sub-contractors, as many as 8,000 jobs may now be in jeopardy. The loss of the shipyard, which was founded in 1917, will come as a a major shock in Denmark where it is considered a source of national pride.

Renowned for its ability to break new ground in the field of shipbuilding, the Lindø made the headlines in 2006 when it launched the world's largest container ship, the Emma Mærsk. Owned by the A. P. Møller-Mærsk business empire, the country's largest shipbuilder, a large proportion of the shares in the business are still controlled by 96-year-old Arnold Mærsk Mc-Kinney Møller — a much loved public figure and philanthropist, who is ranked by Forbes as the world's second richest Dane. According to Børsen, the Lindø, which will cease seeking new contracts and will close its doors in 2012.