- Business - Flensburger Schiffbau-Gesellschaft takes over Nobiskrug shipyard

By SuperyachtNews

Flensburger Schiffbau-Gesellschaft takes over Nobiskrug shipyard

Almost all of the 300 jobs at the shipyard will be retained and the construction of superyachts will continue…

Flensburger Schiffbau-Gesellschaft mbH (FSG), which is part of Tennor Group founded by German entrepreneur Lars Windhorst, is taking over the insolvent Nobiskrug shipyard in Rendsburg. The contract was notarised on Friday 16th of July, after the creditors' committee had given their consent on Thursday. Insolvency administrator Hendrik Gittermann from the Hamburg law firm REIMER has thus secured the future of the shipyard within three months of filing for insolvency.
Speaking to SuperyachtNews, Hendrik Gitterman said, “Both the clients of the new builds and the new investors are in a great position to renegotiate the contracts for the new builds. There is absolute full intention to continue and finish the works in Nobiskrug shipyard."
As of August 2021 FSG will be fully responsible for the operational business and the construction of superyachts under the Nobiskrug brand will then commence. The acquisition has made it possible to retain almost all of the approximately 300 shipbuilding jobs and all apprenticeships.
"The interest in the traditional Rendsburg company was enormous. Nobiskrug has a legendary reputation in the yacht scene, roughly comparable to that of Bentley or Rolls Royce among car enthusiasts," says Gittermann. "I am therefore all the more pleased that the months of talks and negotiations with shipyards, private investors and investment companies have led to this result. The deal that has now been signed serves the interests of the creditors, the employees and the entire maritime industry in northern Germany in an ideal way," Gittermann continues.
The steel construction department of Nobiskrug, which, among others, is responsible for the construction, maintenance and repair of the lock gates of the Kiel Canal, will be continued with around 25 employees by insolvency administrator Gittermann until another investor is found for it. “We are fully confident that we will find a buyer, theres no reason for us not to find somebody soon." Gitterman told SuperyachtNews.
Flensburger Schiffbau-Gesellschaft is a company of the Tennor Group, whose founder, Lars Windhorst, says about the acquisition of Nobiskrug, “This 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. FSG remains the core of our maritime investment with the construction of merchant and naval vessels, which we are now expanding to include the construction of superyachts.”

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