Investors Eye Takeover of FSG and Nobiskrug Amid Insolvency

new management is unlikely. Essential tasks such as maintenance and TÜV inspections need addressing first before normal operations can recommence. Work on a 210-meter RoRo ferry at the Flensburg site is expected to possibly resume in February, creating short-term opportunities. Provisional administrator Morgen revealed ongoing discussions with Australian shipping firm SeaRoad, underscoring the firm’s keen interest in proceeding with their existing orders with FSG . SeaRoad remains committed to manufacturing the ferry at FSG , as declared by their management team en route to Germany for further discussions. Meanwhile, Nobiskrug aims to construct a superyacht for a private owner, amid a dearth of orders at the present. Official insolvency proceedings starting February 1 will simultaneously signal the end of insolvency benefits for roughly 500 employees, who will be transitioned to a transfer company receiving 80% of their previous net salaries over a four-month period. This step strives to avert unavoidable closures while ongoing discussions continue on interim financing in collaboration with the state government. The shipyard group’s financial saga began with former owner Lars Windhorst acquiring a majority stake in FSG in 2019, following setbacks during a ferry construction. Since then, bouts of insolvency and further acquisitions have shaped their trajectory, culminating in current investor negotiations as a pivotal turning point for both entities.