Shipbuilding - Minister President awaits expert opinion on Meyer Werft
Before seeking help from taxpayers to save crisis-stricken Meyer Werft, Lower Saxony's Minister-President Stephan Weil first wants to wait for an economic assessment of the company. "Otherwise, public engagement will not be possible", Weil told the "Ostfriesische Kurier" in Norden. Currently, experts are working on the evaluation.
This concerns bridge financing for the period when the ships are being built but not yet delivered and fully paid for. "We must maintain the liquidity and operational capability of the company in this period", the SPD politician told the newspaper. It's clear that the state cannot do it alone, but the federal government must also help.
Regarding the state's entry into the crisis-ridden cruise shipbuilder, Weil said, "Nothing has been decided on the matter yet, and there's still no solution." The state has no desire to get operationally involved, the Regierungschef explained.
Following the withdrawal of the Meyer-Söhne from the management, there is new management, which is an essential and important prerequisite for a solution, Weil said. "I have a good impression of the new board. We talk openly and clearly with each other." However, Weil criticized the plan of the rescuer to cut around 400 jobs initially as "not particularly smart." The problems lie elsewhere. The internal structure of the company must also change, which includes having a supervisory board.
In response to his Economics Minister Olaf Lies (SPD) demanding that Meyer Werft relocate its corporate headquarters from Luxembourg back to Papenburg, Weil said, "Lies is deeply involved in the matter and knows what he's talking about. I don't need to add anything to that."
Meyer Werft, with over 3000 employees, is currently experiencing the most difficult phase in its more than 200-year history. Despite full order books, the company must close a financing gap of 2.7 billion Euros due to the aftereffects of the Corona pandemic and price increases following Russia's attack on Ukraine by 2027.
- Stephan Weil, the Minister-President of Lower Saxony, is awaiting an economic assessment of Meyer Werft GmbH before seeking public engagement.
- Weil has stated that the state alone cannot save crisis-ridden shipbuilder Meyer Werft and is calling for the federal government's help.
- In response to Weil's call, an essential prerequisite for a solution has been the new management at Meyer Werft, which Weil finds impressive.
- Olaf Lies, Economics Minister of Lower Saxony and a member of the SPD, has demanded that Meyer Werft relocate its headquarters from Luxembourg back to Papenburg, a proposal Weil supports.
