Germany

Kröger Werft GmbH & Co

Plans have been announced for <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> to acquire the <a data-gid="gid://syiq/Company/5" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nobiskrug (Company)">Nobiskrug</a> Shipyard in Rendsburg, Germany, following the shipyard’s application for insolvency in December 2024.<img src="https://photo-assets.superyachttimes.com/photo/208720/image/large-e7e6ae4c19219ed8e1c5ffeb77d63074.png" data-gid="gid://syiq/Photo/208720">The official announcement was made today (Friday 31 January) with Schleswig-Holstein's Prime Minister, President Daniel Günther and State Secretary for Economic Affairs Julia Carstens addressing the employees and industry stakeholders.The owners of the Rönner Group, who will continue to operate the Flensburg shipyard, introduced themselves personally to the employees. Chas Kelly, Chairman of SeaRoad Shipping from Tasmania / Australia, explained that he had placed an order with the Rönner Group to complete the shipbuilding project in Flensburg.For months, uncertainty loomed over the 140 employees at <a data-gid="gid://syiq/Company/5" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nobiskrug (Company)">Nobiskrug</a> following the insolvency of the <a data-gid="gid://syiq/Company/5275" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Flensburger Schiffbau-Gesellschaft (Company)">FSG</a>-<a data-gid="gid://syiq/Company/5" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nobiskrug (Company)">Nobiskrug</a> shipyard, previously owned by investor Lars Windhorst. Earlier this month it was announced that the company had received several offers from potential investors.Read: <a data-gid="gid://syiq/Article/62427" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="FSG Nobiskrug in negotiations with potential investors amid insolvency (2025-01-17 15:30:00 +0100)">FSG Nobiskrug in negotiations with potential investors amid insolvency&nbsp;</a><img src="https://photo-assets.superyachttimes.com/photo/98799/image/large-9a54de6d47c002319e951295f26172fa.jpg" data-gid="gid://syiq/Photo/98799"> <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> has now submitted an offer that is now awaiting approval from the creditors' committee. Should the deal proceed, the Rendsburg site would be integrated into <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a>'s existing shipbuilding operations in Schacht-Audorf, where the company has built superyachts of up to 180 metres, since acquiring the former <a data-gid="gid://syiq/Company/714" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kröger Werft GmbH & Co (Company)">Kröger</a> shipyard in 1987.The successful outcome is credited to insolvency administrators Dr. Christoph Morgen and Hendrik Gittermann, who led negotiations amidst significant time constraints. With over 500 employees impacted by the bankruptcy, insolvency payments were only guaranteed until the end of January, increasing the urgency of securing a buyer.&nbsp;"We have managed to find two renowned strategic investors for <a data-gid="gid://syiq/Company/5275" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Flensburger Schiffbau-Gesellschaft (Company)">FSG</a> and <a data-gid="gid://syiq/Company/5" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nobiskrug (Company)">Nobiskrug</a>within the extremely tight time frame of just seven weeks," explained Dr Christoph Morgen. "In the week following the opening of the insolvency proceedings, technical preparations will begin at the Flensburg shipyard for the Rönner Group to resume shipyard operations."Due to the considerable investment backlog, both shipyards are currently not operational. Extensive preparatory work still needs to be carried out in the coming months, which will involve obtaining TÜV authorisations and certifications, renovating buildings, setting up facilities, procuring materials and much more.<img src="https://photo-assets.superyachttimes.com/photo/194054/image/large-45f340199e017ba851e37398be4b85c3.jpg" data-gid="gid://syiq/Photo/194054">A transfer company will therefore be set up for the employees, which will ensure the transition from 1 February and enable them to gain further qualifications. Over 95 per cent of the 500 employees have contractually agreed to this procedure.The potential takeover marks a significant shift in the relationship between <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> and <a data-gid="gid://syiq/Company/5" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nobiskrug (Company)">Nobiskrug</a>. The two shipyards have long maintained a spirit of mutual support. Last summer, when a fire destroyed a <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> new-build, <a data-gid="gid://syiq/Company/5" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nobiskrug (Company)">Nobiskrug</a> employees sent a banner signed by the workforce in solidarity. In November, <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> reciprocated, delivering a similar message of support to their struggling counterparts in Rendsburg. The motto at the time was simple yet poignant: "Shipbuilding sticks together.""We are delighted that the takeover by <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> has created a long-term perspective for Rendsburg. The traditional company is an excellent fit for Nobiskrug. In addition, the capacities and locations of the two shipyards complement each other almost perfectly," concluded Hendrik Gittermann.SuperYacht Times has reached out to <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> who declined to comment on the situation.

Lürssen plans to acquire Nobiskrug Shipyard amid insolvency

Lürssen allegedly plans to acquire the Nobiskrug Shipyard in Rendsburg, Germany, following the shipyard’s application for insolvency in December 2024.