Germany: Lürssen Group Acquires Peene Shipyard
In today’s meeting of the creditor committee, and acting on the suggestion of the insolvency administrator, Berthold Brinkmann, P+S WERFTEN decided in favour of the Lürssen Group (Bremen) as the buyer of the Peene shipyard in Wolgast.
This decision is subject to approval by the creditors holding liens on the property. The purchase agreement has already been concluded. As of 1 May 2013, the Lürssen Group will acquire the compact shipyard with its repair and new construction area. The purchase is also subject to approval by the Federal Cartel Office. The purchase price is less than 20 million euros (approx $26.3 Mln).
Berthold Brinkmann: “Lürssen offered the best purchase price. Aspects particularly appreciated were the skill of the workforce and the know-how accumulated by the company, a special shipyard for naval and government agency vessels. The many years of successful cooperation, for instance when building the F125 frigate, and the trust gained from that also played a role in terms of the Lürssen Group’s decision to buy the company.” The Lürssen Group has pledged to make offers for permanent employment to 285 people, as well as offers for 75 additional positions for employment limited to 24 months. In addition, all 65 trainees of the Peene shipyard will be taken on and their training will be continued.
The Lürssen Group is purchasing the buildings for the compact and repair shipyard but not the adjacent properties to the north and south, which do not belong to the main shipyard. They will be sold separately by the administrator.
Several parties interested in the Volkswerft Stralsund shipyard
“Several interested parties from Germany and abroad are in talks with the administrator,” said Berthold Brinkmann, concerning the Volkswerft Stralsund shipyard.
Negotiations between the administrator and the DFDS shipping company are in the final stages regarding the anticipated order for two RORO special vessels. Today, the creditor committee declared itself in favour of the administrator’s recommendation that the two special vessels be built at the Volkswerft. Also, at the request of DFDS, the project will be supported by Wolfgang Stammer, the former managing director of Volkswerft Stralsund GmbH whom Berthold Brinkmann recruited to his team in September 2012 as senior advisor.
In the meantime, the operating company “Stralsunder Schiffbaugesellschaft mbH” was founded with its headquarters at An der Werft 5 in Stralsund. The partner is IMG Ingenieurtechnik & Maschinenbau GmbH (Rostock), and the managing directors are Reinhart Kny and Stefan Säuberlich. The Stralsunder Schiffbaugesellschaft will operate on behalf of the administrator within a contract for services framework. The employees from the transfer company will be hired for a limited time. The managing directors are negotiating a tariff for the employees with the union IG Metall. As soon as the contract with DFDS is completed and production at the Volkswerft Stalsund shipyard is up and running again, the operating company will become active on behalf of the administrator with approximately 300 shipbuilders.
Press Release, December 18, 2012