Government intervention in Meyer Werft's rescue, as per Habeck, is "on the brink of assistance."
German Economic Minister Robert Habeck hints at a potential rescue for struggling Meyer Werft in Papenburg, Lower Saxony. "We've been putting in a lot of effort to find solutions recently," Habeck stated on Thursday, as per his ministry. "And there are indeed possibilities."
Reports suggest that the rescue plan for Meyer Werft could involve the state acquiring 80-90% of the company's shares and guaranteeing additional loans. Nevertheless, the Federal Ministry of Economics hasn't officially confirmed this agreement due to the sensitive nature of the process.
Chancellor Olaf Scholz (SPD) attended a company meeting in Papenburg on Thursday along with local government representatives. However, it seems that a definitive agreement on the rescue plan still hasn't been reached.
IG Metall, the maritime trade union, applauded the government's involvement as "commendable industrial policy" that safeguards crucial parts of Germany's shipbuilding industry. IG Metall Coast's regional manager, Daniel Friedrich, explained, "Berlin and Hannover are offering the shipyard and its workers a significant opportunity for a new beginning, which they must seize now."
Nonetheless, Dieter Janecek, maritime coordinator of the federal government, cautioned against premature celebrations. "Today, we can only reaffirm that we're making further progress," he told the Düsseldorf-based "Rheinische Post." "We still have some questions to answer, such as reviewing feasibility studies, addressing finances' complex issues, and seeking approvals from the Budget Committee of the Bundestag and the EU Commission, among others."
The Economic Minister's potential rescue plan for Meyer Werft involves the state acquiring a significant portion of the company's shares and providing additional loans. Habeck's statements indicate that they've been actively seeking solutions to prevent the shipyard's struggle.
