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

People & Company News

InterMoor Completes Juniper Mooring Installation Contract

InterMoor has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago, reportedly the largest foundation

Seagull Secures Panama Flag Approval

Seagull Maritime said it has secured training center approval from the Panama Maritime Authority, marking the first time that an overseas company has done so following

26-year Jail Term Sought for Concordia Master

An Italian prosecutor asked a court on Monday to sentence the captain of the Costa Concordia cruise liner to more than 26 years in jail for his role in the 2012 disaster that killed 32 people.

Shipbuilding

Huisman Cranes for New Maersk Subsea Support Vessels

In December 2014, Huisman secured a contract from COSCO (Dalian) Shipyard for the delivery of four customized 400mt Rope Luffing Knuckle Boom Cranes and two 100mt

Coast Guard Cutter William Trump Commissioned

The Coast Guard Cutter William Trump was commissioned during a ceremony at Coast Guard Sector Key West Saturday Jan. 24, 2015. The Trump is the 11th fast response cutter in the Coast Guard fleet.

World's Largest Ship Sparks Outrage

Jewish groups in the Netherlands and Britain have reacted with rage and despair at the arrival in Rotterdam of the world's biggest ship, the Pieter Schelte, named

Finance

Study Examines Impacts of Inland Waterway Investment

The National Waterways Foundation (NWF) has commissioned and released a two-year study to examine the U.S. inland waterways’ national economic return on investment

Gypsy Moth Clause Takes Balanced Approach to Risk

A new BIMCO clause provides a simple, practical and commercial solution focusing on the basic obligations and responsibilities of owners and charterers when dealing with the Asian Gypsy Moth (AGM).

Maersk Line Gets new AEO number

Maersk Line has been re-certified as an Authorised Economic Operator (AEO) with the AEO-F, the highest achievable accreditation in the European Union programme.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1396 sec (7 req/sec)