Privinvest to acquire renowned German shipyard Lindenau
After its groups’ acquisition of Nobiskrug shipyard, Rendsburg, in 2009 and the take-over of the former HDW-Gaarden shipyard in Kiel in 2011 – today named ADM Kiel -, Privinvest has announced its third acquisition of a shipyard in Germany – the renowned Lindenau shipyard in Kiel.
The group’s German order book lasts well into 2016 and the Lindenau acquisition will in particular strengthen its repair and refit capacities with a strong focus on the maintenance programmes of the German Naval fleet.
“With the coming into effect of the relevant contracts we proudly welcome Lindenau into our international group of shipyards. Due to the proximity of all three German sites, we will be able to act in a flexible and integrated manner and thereby offer a highly competitive and powerful set-up to the market. The central location between the North Sea and the Baltic Sea is ideal to serve our clients close to their main trades”, said Mr Iskandar Safa, CEO of Privinvest Group.
Privinvest had also investigated the opportunity to acquire Peene Werft, situated in East Germany close to the Polish border, however with the acquisition of Lindenau, Privinvest is able to achieve its strategic objectives benefitting from this extended set-up already from the beginning of 2013.