FSG Nobiskrug shipyards has received several offers from potential investors. These are industry-related companies from Germany, not financial investors.
This was reported by the provisional insolvency administrators Dr Christoph Morgen and Hendrik Gittermann at an event in Rendsburg on 17 January. The occasion was the visit of Schleswig-Holstein's Prime Minister Daniel Guenther and State Minister of Economic Affairs Claus Ruhe Madsen to a staff meeting at the invitation of the workers’ union “IG Metall Rendsburg”.
“Negotiations with interested parties are well advanced. This applies equally to the Rendsburg and Flensburg sites,” said Gittermann. Nonetheless, Gittermann and Dr Morgen consider a complete and immediate resumption of production at the beginning of February, and then under new management, to be unrealistic. Before that, maintenance work and TUV inspections would have to be carried out, insurance cover applied for and much more would have to be done.
Meanwhile, the preparations and work on the 210-metre long RoRo vessel are to resume at the Flensburg site in February if possible, thus providing the shipyard with short-term employment. The provisional insolvency administrator Dr Morgen is in close contact with the Australian shipping company SeaRoad regarding this matter. “The interest and cooperation shown by the shipping company are very encouraging and promising,” said Dr Morgen. SeaRoad says it remains committed to the build of Hull No. 784 which was contracted in September 2021. SeaRoad’s Executive Team is currently in transit to Germany to progress discussions with relevant parties.
Insolvency proceedings for the companies in the shipyard group are expected to be opened on 1 February. This is also when the reference period for the insolvency substitute benefits for the approximately 500 employees ends. “That said, the potential investors need a few more months before work can really start again at the shipyards,” said Dr Morgen. For this reason, and in order to avoid an otherwise inevitable closure of the business, all employees would have to transfer to a transfer company for a period of up to four months from 1 February. There they will receive 80 percent of their previous net wages.
“The aim is to enable as many people as possible to continue to work at the shipyards as soon as possible, as soon as suitable solutions are found,” said Dr. Morgen. “However, the decision on this investor solution must be made by the opening of the insolvency proceedings on 1 February,” added Gittermann. The provisional insolvency administrators are counting on the financial commitment of the investors. At the same time, they are talking to the state government of Schleswig-Holstein about possible interim financing, since the entire investor process is still under enormous time pressure.
