Wednesday, September 28, 2016

Lürssen buys Blohm+Voss Hamburg shipyard in Bremen competitors – Handelsblatt


The Bremen-based Lürssen shipyard takes over the Hamburg-based competitor.

(photo: Reuters)

HamburgThe Bremen shipyard of Lürssen, the traditional Hamburg company Blohm+Voss. It Lürssen have reached an agreement last weekend with the previous owner and Investor Star Capital, said the ship-building enterprise on Wednesday in Bremen. In Hamburg, the Acquisition was positively received.

With the Acquisition of strut Lürssen is a long-term commitment. The family-owned company wants to round off according to its own data, especially the range of services for the repair, the Overhaul and upgrading of yachts, naval and commercial ships within the group of companies, as well as the new business of naval ships. The cartel office must approve the Acquisition.

The largest shipyard bankruptcies in Germany

  • The Bremer Vulkan comes as Germany’s largest Shipyard group in bankruptcy. Almost 2000 people will lose their Job. The group had the equivalent of alienated, at least 435 million Euro in subsidies purpose, which were intended to be used for subsidiaries in Eastern Germany. In the autumn of 1995, resigned as Chairman Friedrich Hennemann and the two employees were later convicted of infidelity to suspended sentences.

  • the shipyard, The Lloyd Bremerhaven with around 500 employees in insolvency. The financial problems caused mainly by the wreck of the capsized cruise ship “Pride of America”. In the period following the restoration of the company to succeed, in 2006, the Italian State shipbuilder Fincantieri and economic promotion company of the state of Bremen as a partner to climb. In 2011, 200 people work at Lloyd.

  • The Kiel tradition provides for insolvency shipyard Lindenau. The double-hull tankers specialized shipyard has according to own information on orders of 225 million euros. At the beginning of 2012, the million order for a major repair of the Navy’s sailing school ship Gorch Fock will go to the competition. Of the former, with about 370 employees 38 work at Lindenau.

  • The Bremerhaven, Schichau Seebeck shipyard files for bankruptcy. Outstanding liabilities to suppliers could not be paid in spite of a well-filled order book. At the shipyard, more than 300 Employees work. Shortly thereafter, the shipyard is closed.

  • For the Wadan shipyards in Wismar and Rostock-Warnemünde is in spite of state-guaranteed loans in the three-digit million amount of insolvency. It will fail first, all Attempts to secure existing jobs and find new investors. In August, the creditors ‘ Committee approved the sale to Russian Investor Igor Yusufov, with 40.5 million euros. On the later Nordic Yards renamed shipyards nearly 970 of the once 2400 employees.<2011/p>

  • Germany’s oldest shipyard, the Hamburg-based Sietas group, is in bankruptcy. In June 2012, the company is broken: The Sietas shipyard to the Dutch Veka group. The Bremen-based Lürssen group takes over the repair shipyard shipyard North. Norway’s TTS Group ASA has been awarded the new fields Maschinenfabrik. Since the bankruptcy application 350 of the formerly 1000 jobs have been deleted.

  • P+S-Shipyards make to the district court of Stralsund for the bankruptcy of the two Yards in Stralsund and Wolgast. Almost 2000 Employees fear for their Jobs.

remains Open, however, whether at the Hamburg site in future also luxury yachts are built. So far, Blohm+Voss tried, unsuccessfully, to new orders in this market segment, which is one of the special Strengths of the German shipyards. “The extent to which we are going to use the site in the future for the production of yachts, will mainly depend on the development of the market and is not to be answered at this point,” said the chief of the Bremen-based family company, Peter Lürßen.

Blohm+Voss were sold in December 2011 by Thyssen-Krupp to Fund the British investment company Star Capital. The company employs nearly 1000 employees. With Lürssen, Blohm+Voss has a long-standing cooperation in the area of the Navy’s ships, most recently during the construction of the frigate class F125 for German Navy. If the purchase is completed, is from the Lürssen shipyard group with 2800 employees, and six highly specialized locations in all the five German coastal States.

The Acquisition took place at the Hamburg politics and the trade Union with a positive response. “This is a great opportunity for the Maritime location of Hamburg”, said Hamburg’s Senator for economy, Frank Horch (independent). “The Shipyard is set on a solid Foundation for the future.” So, Blohm+Voss could attract new customers and permanent employment at the Hamburg site back up. Blohm+Voss was not a yard just a tradition, but a key component for the shipbuilding industry in the whole of Germany.

the IG-metal coast, reacted positively. “For Blohm+Voss is a good news, but we expect more information on how the site can be further developed, especially with regard to employment and jobs,” said district Manager Meinhard Geiken. Lürssen is a company, behind a company’s strategy and orders. Under the umbrella of the group, Blohm+Voss have greater opportunities for development than with the financial investor Star Capital. The Union had been surprised by the Acquisition, and was not previously informed. Lürssen had already tried in the past to take over Blohm+Voss.


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