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12 August 2020 The on-line newspaper devoted to the world of transports 20:08 GMT+2



July 1, 2020

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Aid of EUR 175 million to German shipyardS MV Werften, New Hampshire

Additional federal funds required for 570 million euros

A consortium of banks has authorised the granting of funds german shipbuilding company for 175 million euros MV Werften to allow the naval company to overcoming the current problems in July-September. liquidity shortage. The resources will be drawn from a fund EUR 260 million to meet the crisis in shipbuilding had been filed by Genting Hong Kong, the Hong Kong group which had acquired the Wismar, Rostock and Stralsund bringing them together under the only MV Werften brand ( 11 July 2016). For the release of these resources, it was required approval by banks and guarantors, including the state Mecklenburg-Pomerania Front.

Emphasizing that the decision to grant the loan "it is a strong signal from all stakeholders involved in the MV Werften shipyards and the role Mecklenburg-Pomerania Front', the Minister Economics, Work and Health of Mecklenburg-Front Pomerania, Harry Glawe specified that the approval represents a first important step needed to ensure that it can be secured survival of MV Werften. With the release of the funds -- he specified - the liquidity of shipyards can be further guaranteed and can also be carried out pending payments with suppliers.' The Minister also highlighted the importance of the next step, which is the start free to the release of EUR 570 million in aid from the federation fund of economic stabilization that has been MV Werften, funds - explained Glawe - that would cover the company's financial needs completion of the ships under construction.

PSA Genova Pra'



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