Nobiskrug Shipyard looking for investors

Written by Francesca Webster

Nobiskrug Shipyard in Germany, who announced their insolvency earlier this month, have released some positive developments in regard to potential investment opportunities to rescue the renowned company. Following the announcement on the 13th of April, a number of investment requests were received from both Germany and international markets. The insolvency administrators of the shipyard have now employed consultancy firm PwC to handle the proceedings and the search for potential investors. Sapphire and Mogambo yachts fitting out at Nobiskrug shipyardPhoto: Christian RohwedderHendrik Gitterman, of the Hamburg based law-firm Reimer who are handling the insolvency proceedings, commented, "My goal is to find an investor by the end of June, who will pursue the business of the shipyard and continue building ships with the existing workforce in Rendsburg." This is hugely welcome news for the industry as a whole, and especially for employees and clients of the shipyard.

Gitterman added that a number of potential investors have already voiced a keen interest, and plans will proceed in the coming days to send out investment proposals to those parties. PwC partner Timo Klees has added; "We are confident that Nobiskrug will be of particular interest to other shipbuilders and players in the maritime industry, who will be able to use the site and the expertise of the workforce."

At this time, the entire shipyard and its facilities are on the market, and it is the intention of all involved to retain the highly skilled workforce, many of whom have been employed at Nobiskrug since training. Submissions for investors will begin directly, with nomination in early June, consolation of bids in late June and the sale scheduled for the 1st of July. Both Gitterman and Klees are positive that this ambitious plan will be accomplished. Sailing yacht A off the Isle of ManPhoto: Nick HorsthuisNobiskrug is world-renowned for its construction of superyachts such as the 142-metre super sailing yacht Sailing Yacht A and the 74-metre Mogambo.

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