An apparent solution to save the struggling Meyer Werft shipyard in northern Germany appears to be within reach, with German Chancellor Olaf Scholz and others expected to address shipyard workers there on Thursday.
The potential breakthrough was revealed by a labour leader at Meyer Werft on Wednesday.
Scholz is expected to be joined by the state premier for Lower Saxony, Stephan Weil, and the state’s economy minister, Olaf Lies, according to the chairman of the works council at Meyer Werft, Andreas Hensen.
Sources in government circles in Berlin told dpa that no final decision has been made on a possible rescue plan, but that there is a willingness to intervene to save the shipyard.
The Meyer Werft shipyard is located in the state of Lower Saxony. Scholz, Weil and Lies are all members of the centre-left Social Democratic Party (SPD), which historically has maintained very close ties with organized labour.
According to a management spokesman, all parties involved have agreed in principle to rescue plan for the faltering company, which has reportedly been facing existential challenges. “However, there are still some technical details to be clarified,” the spokesman said.
A solution must be found by September 15, otherwise the shipyard will run out of money, according to the company.
There have been reports that the state and federal governments might consider taking a stake in the shipyard, which would also provide for an increase in equity capital of €400 million ($445 million).
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