The federal and state governments are investing 400 million euros in equity capital and are temporarily taking over around 80 percent of the traditional shipyard from Papenburg. In addition, the public sector is securing bank loans worth 2.6 billion euros with guarantees. The owner family Meyer will hold around 20 percent in the coming years and has a kind of buyback option. The aim is to stabilize the shipyard by around 2028. The federal government intends to send financial expert Patricia Geibel-Conrad and restructuring expert Christian von Lenthe to the supervisory board of Meyer Werft GmbH. As the Federal Ministry of Economics further announced, Klaus Richter is to be appointed as an additional member of the supervisory board by resolution of the shareholders’ meeting and proposed to the supervisory board as chairman. Richter was head of the defense company Diehl until mid-2024 and before that he was a long-time manager at the aircraft manufacturer Airbus and the car manufacturer BMW. Politicians justified the rescue of the company, founded in 1795, with the preservation of know-how in shipbuilding in Germany. In addition, around 17,000 jobs are directly and indirectly linked to the shipyard, including suppliers and service providers. As a further business area, the shipyard group plans to build converter platforms as part of the expansion of offshore wind energy.
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