Rendsburg-based yard Nobiskrug looks to have been saved with shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) announcing a deal to take over the ailing German shipyard.
Nobiskrug, famous for building the world’s largest sailing yacht, filed for insolvency in April following a period of uncertainty over its long-term future, which had seen 120 members of staff made redundant in 2020.
The deal will see FSG acquire its shipbuilding facilities, trademark rights and intellectual property and go a long way to ensuring jobs for its employees. All 280 employees, with the exception of the steel department, made up of 25 people, will remain under contract. FSG has stated it is seeking an investor to secure the future of the steel department.
Hendrik Gittermann, the insolvency administrator, admitted the interest in Nobiskrug was huge, but that the offer on the table from FSG was the most beneficial: “The now sealed deal serves the interests of the creditors, the employees, and the entire maritime industry in Northern Germany in an ideal way” he said.
FSG, builds and repairs passenger vessels, ferries, Ro-Ro (Roll On Roll Off) vessels, and more and is part of Tennor Holding, a global investment holding company based in Germany.
Tennor’s founder Lars Windhorst, said: “This takeover is an important strategic step for us. Nobiskrug opens up access to the attractive growth market of superyacht construction. The renowned shipyard stands for innovative and ecologically demanding individual shipbuilding like few others.”
Philipp Maracke, CEO of FSG, will also take over the management of Nobiskrug. The yard will retain its name and current contracts in place will continue as normal.
Nobiskrug was behind the build of the 142.8m (303ft) Sailing Yacht A in 2017, which remains the world’s largest sailing yacht and one of the ten largest yachts in the world. According to YachtBuyer intelligence, it has six yachts currently under construction, the largest of which is 116m (380.5ft) Project Phoenix, due for delivery in 2023.
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