German Shipyard Files for Insolvency; Buyer Sought

(MarineLink.com)
Wednesday, August 29, 2012

In recent the management of P+S WERFTEN have been involved in discussions with the representatives of the German Federal State of Mecklenburg-Western Pomerania and the German Federal Government, and with its customers, suppliers, employees, the trade union IG Metall Küste and with banks to find a way towards an economic future for P+S WERFTEN.  Rüdiger Fuchs, CEO of P+S WERFTEN since 7 August 2012, said, “In recent days we have explored all options in our attempts to reach a solution. We have provided open and honest information about our problems and tried to prevent insolvency. Now it is clear that it is not possible to reach an out-of-court solution supported by all stakeholder groups.”
For this reason, the management of P+S WERFTEN GmbH has filed for insolvency before the insolvency court of the local court of Stralsund. P+S WERFTEN is seeking debtor’s self-administration in a bid to keep the available know-how in the company and to continue to build as many ships on our order books as possible.
It is hoped that the sale of the Peene shipyard in Wolgast will occur within a structured investor process. Management has already informed the works council of the application for insolvency.
P+S WERFTEN in Stralsund and Wolgast currently employs 1,771 people and 116 trainees.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

Ecochlor Presents BWTS Case Study at CMA

Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Shipbuilding

Carnival to Add Nine Ships to Cruise Fleet

Carnival Corporation enters into strategic partnerships to add nine cruise ships to its fleet over a four-year period starting in 2019; shipbuilders Fincantieri

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Boat of the Month: Moore Shallow Shuttle 23

Moore Boat LLC recently delivered the first of three all new aluminum Moore Shallow Shuttle 23 RIB’s to Seacrets, Jamaica USA after the vessel’s successful completion of various sea trials and the U.

Finance

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Panama Canal Sets Sight on Another Expansion

As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion

Baltic Sea Freight Index Flat on Muted Vessel Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained steady on Thursday due to a muted vessel activity.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3260 sec (3 req/sec)