- Chancellor of Germany Paying a Visit to Meyer Werft as Potential Salvage Plan Emerges
The beleaguered Meyer Werft is on the brink of a potential salvation. As reported by "New Osnabrücker Zeitung", top officials from the SPD party, including Federal Chancellor Olaf Scholz, Lower Saxony's Minister President Stephan Weil, and Lower Saxony's Minister of Economics Olaf Lies, will address the workforce during a meeting on Thursday, according to works council chairman Andreas Hensen.
In essence, all parties involved seem to have consented to a rescue strategy for the financially wobbling company. According to a spokesperson from the management, "most of the plans have been agreed upon," but some technical specifics still need to be ironed out. By September 15th, a solution must be in place, or else the shipyard will runs out of funds.
The possibility of both federal and state governments investing in the shipyard, along with increasing its own capital by 400 million euros, is being considered. Furthermore, the shipyard requires financial assurances to secure loans for building ships. By 2027, the firm, renowned for its cruise ships, will require approximately 2.8 billion euros.
Officials from the German capital have hinted that a final decision hasn't been made yet, but the intention to save the shipyard is clear. Based on these sources, the federal government and Lower Saxony may each provide around 900 million euros in guarantees and assume temporary control of 80 to 90% of the shipyard. This information was initially reported by "Handelsblatt" and NDR. However, any such agreement would still need approval from the Bundestag's Budget Committee and the EU Commission, it was mentioned.
Stephan Weil, being a top official from the SPD party, will join other leaders to address the workforce at Meyer Werft on Thursday. The federal government and Lower Saxony, led by Stephan Weil as Minister President, are considering providing significant financial support to secure loans for Meyer Werft.
