The Laivateollisuus yard was discontinued in 1988 and the gluelam structure production was continued by new owners under name Late-Rakenteet Oy.

The nearby Laivateollisuus neighbourhood, originally built for the yard workers, is protected and listed as one of the Finnish cultural environments of national significance.

As all shipyards of Finland had moved to steel as construction material already for decades ago, it was challenging to find experts in the field.

One of them was Kaarlo Pulli, who had evacuated his business to Rauma after Koivisto, where his premises were located, was ceded to Soviet Union with the rest of the Karelian Isthmus.

Another one was Porvoo engineer Gösta Kynzell, who had previous experience from wooden schooners, and the third one was Jarl Lindblom, technical manager of Turku Boat Works.

Delegation of War Reparation Industry (Soteva) ordered from Kynzell preliminary sketches which were completeded into firm plans by Lindblom.

A new company, Oy Laivateollisuus Ab ("Shipbuilding Ltd; LaTe"), was founded in Pansio, Turku on 1 February 1945.

[1] The war reparation programme included three different types of three-mast schooners: 17 were merchant ships with square rigs on the fore masts; the total sail area was 822 m².

[1] Unlike Hollming, which relied on traditional shipbuilding methods, LaTe wanted to invest on productivity.

[1] The sudden increase of wooden ship production caused lack of suitable raw material.

The tests proved that gluelam technology enabled making strong structures from relatively thin timber and it prevented cracking.

The first applications were masts and ribs, and soon the gluelam structures were approved in all areas in which the yard wanted to apply them.

In construction point of view, the most challenging part in the ship were the eight fuel and fresh water tanks, which had complex shapes due to space constraints.

[1] After completing the schooner project, LaTe built nine "transferring trawlers", which were made for compensation of German property which remained in Finland.

[1] After all the war reparations were completed, LaTe continued selling vessels to Soviet Union within the framework of Finno-Soviet trading agreement.

The neighbouring Valmet-owned Pansio shipyard had a similar portfolio, and in order to strengthen its position, Valmet took over Laivateollisuus in 1973.

At the beginning both yards continued operating as independent business units but were put together in 1983 under new name Valmetin Laivateollisuus Oy.