FSG and Nobiskrug: Windhorst shipyards file for chapter | EUROtoday

Insolvency purposes have been filed for the investor Lars Windhorst’s shipyards FSG in Flensburg and Nobiskrug in Rendsburg. The Flensburg and Neumünster district courts have appointed the attorneys Christoph Morgen and Hendrik Gittermann respectively as provisional insolvency directors, audio system introduced.

Both of them and their groups are presently getting an summary of the respective financial state of affairs of the shipbuilding corporations working beneath the umbrella of FSG-Nobiskrug Holding.

Following the workers conferences of the 2 shipyards, the 2 provisional insolvency directors, representatives of the works councils and IG Metall need to inform in regards to the state of affairs in Flensburg (3 p.m.). Schleswig-Holstein’s Economics Minister Claus Ruhe Madsen (CDU) additionally desires to participate within the occasion.

The two shipyards belong to Windhorst’s Tennor Group. FSG and Nobiskrug have had issues for a very long time; Salaries have been repeatedly paid late. Recently, a complete of round 500 staff at each places have been ready for his or her November wage and Christmas bonus. In the meantime, virtually the whole workforce was laid off.

Stadtwerke SH wished to interrupt the facility provide on the Rendsburg location on Monday as a result of there had been no energy provide contract since December 1st. The measure was postponed solely as a result of a federal police ship was nonetheless within the dock for repairs till Thursday, because the municipal utilities introduced on Tuesday.

In the greater than 150 years of FSG’s shipyard existence, the shipyard was on the breaking point a number of instances. But to this point there has at all times been somebody to avoid wasting them from break. In 2014, the Norwegian transport and offshore group Siem Industries took over FSG from a Munich investor.

In 2018, the shipyard made a web lack of 111 million euros on gross sales of 213 million euros, based on the annual report of the Norwegian group Siem Industries printed on the time.

At the start of 2019, investor Windhorst joined the shipyard, and in late summer time of the identical yr his funding firm Tennor took over the whole shipyard, which was already struggling on the time.

In the spring of 2020, chapter needed to be filed after a transport deal collapsed. On September 1, 2020, a number of corporations belonging to Tennor took over the shipyard and 350 of the round 600 staff on the time. Windhorst had created a comparatively good beginning place for the restart as a result of the brand new “FSG 2.0” began with out outdated money owed and liabilities. But additionally with out orders.

Almost a yr later, FSG took over the bancrupt, famend superyacht builder Nobiskrug in Rendsburg.

There have been no new orders

New orders, which Windhorst had repeatedly introduced, have been briefly provide. The FSG solely has one order in progress. In the summer time, the federal authorities revoked funding of 62 million euros for the development of liquid gasoline bunker ships at FSG. The fairness capital assured a number of instances to safe the orders was not made obtainable. An FSG spokesman mentioned on the time that the declare was false and that Tennor had not offered the mandatory proof of the availability of fairness capital.

Windhorst personally was repeatedly criticized from many sides for his habits, empty guarantees and lack of communication. It was solely on the finish of November that the Schleswig-Holstein state parliament voted in favor of a change of buyers. Economics Minister Madsen and Prime Minister Daniel Günther (CDU) had repeatedly referred to as for Windhorst to withdraw. Even insolvency does not have to shock anybody, mentioned Günther in Flensburg a month in the past. That does not must imply that it ends right here. “Maybe this can also mean a new opportunity.”