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22 January 2022 The on-line newspaper devoted to the world of transports 03:50 GMT+1

January 11, 2022

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Original news
The German shipbuilding company MV Werften presented bankruptcy petition

VSM calls for a change of ownership and diversification of the company's business model

The future of the navalmeccanica company is gloomy German MV Werften of Wismar, which in recent days has returned at the heart of the debate of the institutions of the Länder of the Mecklenburg-Pomerania to which the Chinese Genting Hong Kong, owner of the shipbuilding company, she had recent days ordered to disburse the funds necessary to guarantee liquidity and thus to ensure the continuation of the activity ( of 3 January 2022).

Yesterday MV Werften filed for bankruptcy with the Schewerin District Court. The news was learned with dismay from the government of Mecklenburg-Pomerania: "this - said the Minister for Economy, Infrastructure, Tourism and work, Reinhard Meyer - it's a sad day for the industry Mecklenburg-Western Pomeranian Sea. The instance of Failure is bad news for all employees of Wismar, Rostock and Stralsund and also for the numerous suppliers in the country. The bankruptcy petition - noted Meyer - represents a serious setback for the shipyard of the Mecklenburg-Western Pomerania. It is - he underlined - of a state industrial center and the future of about two thousand employees direct of the company'.

In view of the appointment of an insolvency administrator, Meyer has specified that "the government has repeatedly made it clear that it will everything that is legally possible and economically reasonable to ensure the future of MV Werften. We are - ha specified - still engaged in this direction. Objective of the bankruptcy administration is to resolve the situation of MV Werften. In view of the solutions for the continuation of activities and for the future of employees - confirmed Meyer - the State is ready to provide an adequate support. It is important to continue working together with the challenges that await us in the coming days. It's not about - it has specified the minister referring to the difficult negotiations between the company and the Länder - to blame each other. We interested in constructive solutions in the interest of employees'.

Commenting on the negative turn taken by the MV Werften affair, the Verband für Schiffbau und Meerestechnik (VSM), the association of the German shipyards, highlighted the importance of ensure the maintenance of the four shipyard sites of the company on the Baltic Sea and in Bremerhaven as part of a change of ownership. 'The German shipbuilding industry - underlined the association in a note - can no longer afford a further loss of this magnitude. Industry Maritime is facing a great upheaval. The entire fleet must be converted to climate neutrality, the offshore renewable energy production must be massively expanded and infrastructure needs to be built for sustainable fuels and for the capture and storage of carbon. This will require considerable production capacity by the maritime industry. In this context - noted the VSM - failure can also prove to be an opportunity, given that the road is now free for other market segments and for other models of business'. The association in this regard has referred to the focus on the cruise ship segment that has so far characterized the business strategy of MV Werften, strategy abruptly held back by the effects of the Covid-19 pandemic».

The Association of German Shipyards concluded by call on politicians to create conditions quickly so that the German economy can grasp these opportunity.

PSA Genova Pra

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