The Finnish government and major creditors of bankrupt shipyard Waertsilae Marine Industries Oy agreed in principle to form a new company to complete most of the troubled shipyard's backlog of 15 ships. The new company will attempt to limit the shipyard's losses, participants said. "The situation is that the bankruptcy court will get out of the shipbuilding business. Everything will be taken over by the new company," said Christian Andersson, executive vice president of Oy Waertsilae, former parent of Waertsilae Marine. Once its ownership is finalized, the new company will open talks with state-appointed receivers to buy or lease Waertsilae Marine's shipyard facilities. Subcontractors will be offered a settlement and a swift transition to new management is expected to avert an exodus of skilled workers from Waertsilae Marine's two big shipyards, government officials said. Under an accord signed yesterday, the government and Union Bank of Finland would become major shareholders in the new company, each injecting 100 million Finnish markkaa ($23.5 million). Oy Waertsilae is to contribute 200 million markkaa, most of it as subordinated debt, and take a minority stake in the new company. Customers holding contracts for Waertsilae Marine's undelivered ships are expected to subscribe most of the remaining 170 million markkaa in share capital, government officials said. Waertsilae Marine's biggest creditor is Miami-based Carnival Cruise Lines Inc. Carnival, which has three ships on order from Waertsilae Marine, presented claims for $1.5 billion damages in the bankruptcy court this week. Waertsilae Marine's bankruptcy proceedings began Tuesday in a Helsinki court.

Will the Finnish government own the new company?

Sometimes a full Moon moves through Earths shadow. This is a lunar eclipse . During a total lunar eclipse, the Moon travels completely in Earths umbra. During a partial lunar eclipse, only a portion of the Moon enters Earths umbra. When the Moon passes through Earths penumbra, it is a penumbral eclipse. Since Earths shadow is large, a lunar eclipse lasts for hours. Anyone with a view of the Moon can see a lunar eclipse. So unlike a solar eclipse, it doesnt get dark on Earth. Instead it gets dark on the Moon. Partial lunar eclipses occur at least twice a year, but total lunar eclipses are less common. The Moon glows with a dull red coloring during a total lunar eclipse.

How often does total lunar eclipse occur and what color is the moon?

Chemical changes produce new substances. For this reason, they often cannot be undone. Some chemical changes can be reversed, sort of. To do so requires another chemical change to take place. For example, you can undo the tarnish on copper pennies by placing them in vinegar. The acid in the vinegar reacts with the tarnish. This is a chemical change that makes the pennies bright and shiny again. You can try this yourself at home to see how well it works. Other chemical changes cannot be reversed at all or may be difficult to do. Rusting is a chemical change. If metal rusts, the best you can do is to sand off the rust to get down to the shiny metal. Although the metal may now be shiny, the rust was removed. The rust was not changed back into the original metal. Some chemical reactions occur in only one direction. These reactions are called irreversible reactions. For example, you cannot change a fried egg back into a raw egg. Can you think of some other irreversible reactions related to cooking? Would you like a piece of cake?
What are some examples of irreversible reactions?