- Economic Minister announces intent for Meyer Werft's financial rescue plan
Struggling financially, Meyer Werft could potentially receive state aid – reasons behind this will be presented by Economics Minister Olaf Lies (SPD) later today (from 10:30 AM) at the state parliament in Hanover.
It's being proposed that the federal government and the state might temporarily invest in the shipyard, offering about 400 million euros in additional equity. Moreover, the shipyard requires assurances to secure new loans for shipbuilding, thus bridging a massive financial deficit worth several billions of euros. As per sources in Berlin, both the federal government and the state might offer guarantees of approximately 900 million euros each and temporarily take control of around 80 to 90% of the shipyard.
Federal Chancellor Olaf Scholz reassured the company that the federal government would stand by its side at the Meyer Werft site in Papenburg. "The Meyer Werft is a valuable asset that we cannot and will not allow to falter," stated the SPD leader.
The federal government and state officials are considering offering rescue packages, including additional equity and loan guarantees, to aid the financially struggling Meyer Werft. To prevent the shipyard from collapsing due to a significant financial deficit, the rescue and rescue measures could involve temporary control of around 80 to 90% of the company.
