Scholz pledges support for Meyer Werft shipyard in Papenburg
German Chancellor Olaf Scholz has promised federal support for the Meyer Werft shipyard in Papenburg, Germany, as reported by North German public broadcaster NDR. During a traditional summer press conference on Wednesday, Scholz expressed confidence in the shipyard’s competitiveness in the future. However, he emphasized that no decisions regarding the support have been made yet.
Meyer Werft, which is currently in a financial crisis, is owned by the Meyer Group, which also owns the shipyard in Turku, Finland, and another yard in Rostock, Germany. Therefore, the situation is being closely monitored in Finland as well. Recently, Meyer Werft received a glimmer of hope when a preliminary independent audit report deemed the shipyard viable through restructuring. The final audit report is expected to be completed in August. Additionally, the management of the German shipyard reassured employees this week that they are confident about the company’s future.