Germany: Volkswerft Concern Acquisition OKd by the Government

We are pleased about the decision of the state government. Our offer and concept for a future-oriented and resilient perspective for Volkswerft Stralsund have in the end proved convincing. Our commitment to a Stralsund maritime facility and our readiness to invest have been recognised, says Nordic Executive Vice President Jürgen Wollny.
Subject to the decision of the committee of creditors, the next few days will see the final discussions with the insolvency practitioner take place and the last details of the purchase agreement clarified to allow it to be signed soon afterwards. Independently of these events, we shall be standing by our promise to take on engineers and designers as quickly as possible and establish a start-up team, so that operating capability is retained, says Wollny.
Strategically a total of 250 jobs will be created at the Stralsund facility by the end of 2014, with a planned rise to 500 by the end of 2017. Particular focus will be placed on the use of shipbuilding skills for offshore projects involved in the energy transition and for well-equipped offshore special ships.
Shorter construction times for platforms, economies of scale for AC platforms and technical synergies of the three maritime construction yards are further key points of the concept.
 

April 24, 2014