The company was founded in November 1989 under name Masa-Yards Oy to continue operations of the previously bankrupted Wärtsilä Marine.

[citation needed] Ship cabins are built in a separate factory in Piikkiö, Kaarina under subsidiary Piikkio Works Oy.

[4] Shipbuilding Completion designs and builds ship interior outfitting and operates in Perno shipyard premises.

In 1935 Kone- ja Siltarakennus was taken over by Karelian iron mill Wärtsilä which was led by energetic Wilhelm Wahlforss.

[12] Most of the ships produced by Wärtsilä Crichton-Vulcan were exported to Soviet Union but the importance of western market increased by time.

Due to collapse of Soviet exports, errors in price calculations and other reasons, Wärtsilä Marine bankrupted in October 1989.

[14] The company was founded as Masa-Yards Turku New Shipyard in November 1989 to continue operations of the previously bankrupted Wärtsilä Marine.

The founders were Helsinki shipyard manager Martin Saarikangas, state of Finland and companies of which ships were laying unfinished at Wärtsilä Marine yards.

Both the state and the shipowners wanted to sell the shares as soon as the operations were restarted and subsequently the company was taken over by Norwegian Kværner in 1990.

The loss of such a valuable order in a difficult economic situation made the future of Finnish shipbuilding uncertain.