Nordic Yards Hands Over New Offer for P+S Werften

Following further constructive discussions with the insolvency practitioner, the Nordic Yards shipyard group handed in a new, improved offer for the Stralsund maritime facility on Friday, April 4th 2014.

Shipbuilding remains an industry of the future with high growth rates in the markets in which Nordic Yards is represented: offshore wind, offshore oil & gas and ice-going vessels. Billions will also be invested in these markets over the coming years. Therefore we are planning a strategic expansion in capacity. To this end we require highly trained employees and are committing ourselves to the Stralsund maritime facility, its employees and suppliers,” says Jürgen Wollny, Executive Vice President Nordic Yards.

The offer involves taking over the facility on May 1st, 2014. The workforce will be built up to 250 by the end of the year.

Currently Nordic Yards is in the final stages of contract negotiations with various customers about the construction of offshore transformer and converter platforms for the German energy transition.

Exploiting the synergies of the facility should result in a workforce of at least 500 at Stralsund by the end of 2016 at the latest. The offer also contains a confirmation of employment.

Furthermore, the necessary investment in the facility will have to be completed before production can begin again at Stralsund. The new offer reconfirms the previously planned programme of investment of EUR 15 million. The start of production of the first platform is envisaged for autumn 2014.

Nordic Yards currently has four converter platforms under contract, which have been or are being constructed in parallel at the Wismar and Rostock-Warnemünde yards. The integration of the Stralsund facility into the Nordic Yards’ future production programme enables the shipyard group rapidly to satisfy the demand using the three yards.

Public statements to the effect that no ships could be built at Stralsund are highly questionable. Here we must come down on the side of our shipbuilding colleagues: Stralsund has designed, built and delivered some very complex vessels over the years. The present difficulties are rather the consequences of mismanagement by the earlier operators and not due to defects in manufacture,” says Wollny.

The logical next step is to exploit the impressive success of the shipyards in Mecklenburg-Western Pomerania, including all suppliers, engineering design offices, research institutions etc. and direct it towards new markets. The record of wealth creation over the last almost twenty years shows how important the maritime industry is for Mecklenburg-Vorpommern. Since 1995, the shipyards in the federal state have supplied around 400 vessels to the value of over EUR 16 billion.

 

nordicyards, April 8, 2014

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