- Another round of talks on the future of Meyer Werft
Meyer Werft, the struggling shipyard, has once again met with politicians and a trade union to discuss the company's future. All parties agreed that the shipyard has a future, the company announced after today's meeting. CEO Bernd Eikens confirmed that the company's headquarters will remain in the Emsland town of Papenburg.
Andreas Hensen, chairman of the works council, said it was a significant signal that all politicians, regardless of party, were united in supporting the jobs and securing the site.
The discussion was based on the recently submitted draft of the restructuring report. The draft presents a positive outlook for the shipyard's future. According to Meyer Werft, local politicians, state and federal parliamentarians, and the IG Metall trade union were among those who participated in the exchange.
Meyer Werft is in serious crisis
The shipyard, known for its cruise ships, is facing the most severe crisis in its over 200-year history. The shipyard currently has orders until 2028, but many of these contracts were signed before the COVID-19 pandemic. Due to the subsequent decline in the tourism market, the orders were extended in agreement with the shipping companies. However, they do not account for the significant increases in energy and raw material prices resulting from Russia's attack on Ukraine. In early July, the management, works council, and IG Metall agreed on a restructuring concept that involves cutting 340 of the company's more than 3,000 jobs.
The company needs to raise more than 2.7 billion euros by the end of 2027 to finance new shipbuilding projects. This sum also includes the 400 million euro increase in equity demanded by the banks, as previously stated by restructuring expert Ralf Schmitz. The meeting also discussed aid from the state and federal governments.
The restructuring concept, which involves job cuts, is aimed at securing the shipyard's future during this challenging period. Regardless of the current crisis, Meyer Werft believes in a promising future with new shipbuilding projects.
