The Bremen-based Lürssen Group has bought the insolvent Elsflether Werft AG. Die Welt" puts the purchase price at "around 3.5 million euros". The contract has been signed and notarised, but is still subject to approval by the creditors' committee, which was set up due to the insolvency, and agreement with the public contracting authority on the contract for the refurbishment of the "Gorch Fock". The refurbishment of the training ship was the Elsfleth shipyard's major prestige project.
The final formalities should be completed in November. The Lürssen Group will then take over all 130 employees. This will result in a transfer of operations in accordance with Section 613a of the German Civil Code (BGB), whereby the acquirer will assume the rights and obligations arising from the existing employment relationships.
The Lürssen Group, headquartered in Bremen-Vegesack, includes several companies in the shipbuilding and logistics sector with branches throughout northern Germany. The companies specialise in military shipbuilding and megayacht construction.
Pieter Wasmuth, Chairman of the Supervisory Board of Elsflether Werft AG, explains: "We have succeeded in selling the shipyard to a reputable German shipyard group. This is an excellent solution for both the creditors and the employees. At the same time, the public client will also benefit, as it will be possible to continue the repair contract for the training sailing ship 'Gorch Fock'. It fits in perfectly that the ship's former shipyard, Blohm + Voss in Hamburg, is now also part of the Lürssen Group."
Dr Axel Birk, CEO of Elsflether Werft AG, says: "The regional economy on the Lower Weser will be sustainably strengthened. The maritime expertise of the highly motivated workforce will be retained, and our very well-trained employees will be an asset to the Lürssen Group."
Dr Tobias Brinkmann, Chief Representative of Elsflether Werft AG and specialist lawyer for insolvency law, commented as follows: "We will now prepare the handover of the shipyard and the repair contract for the 'Gorch Fock' at the end of the month. This is an important step for the ongoing insolvency proceedings: the continuation of operations at Elsflether Werft AG is thus proving to be advantageous for creditors as well as for our customers and employees. It secures the future of the company."
