Three Years after Acquisition: MV Werften Keeps Growing

Three years after it was acquired by Asian holding company Genting Hong Kong, German builder of large cruise ships MV Werften has a proven record of success.

At a press conference held in Rostock last week to mark the 3-year anniversary, the management of MV Werften reviewed progress to date.

The management also provided details of MV Werften’s current shipbuilding projects, staff expansion, investment program and plans for the future.

“In the last 36 months, the group has increased its workforce and invested in plant and equipment at an impressive speed. Ships have been built – and four already delivered,” Peter Fetten, CEO of MV Werften, said.

As explained, the success story was made possible by the acquisition of the MV Werften shipyards by Genting Hong Kong in spring 2016.

The shipyards in Wismar, Rostock and Stralsund have been operating as part of the Genting Group since March 2, 2016. Genting Hong Kong primarily wanted to use them to build a cruise fleet for its three brands – Crystal Cruises, Dream Cruises and Star Cruises.

Moreover, MV Werften has expanded its workforce, doubling it from 1,400 to over 2,800 at its locations between 2016 and 2019.

As disclosed by the company, in the medium term, over 3,000 persons will work at the group’s three yards. This follows the last month’s announcement that the cabin fabrication company MV Werften Fertigmodule welcomed its 100th employee at the beginning of February. The fabrication company’s staff is set to increase to up to 200 in the future.

Finally, an extensive investment program worth over EUR 250 million (USD 283.5 million) has been implemented by MV Werften.

Related:

MV Werften Boosts Shipbuilding Capacity

MV Werften to Expand Design Capacities with Rostock Firm