An effort is currently in progress to attract investors for the FSG-Nobiskrug shipyard sites after it was announced that financing has been secured until January 31, 2025.

This development comes in the wake of the shipyards entering insolvency administration in December 2024.

The financing for the Flensburger Schiffbau-Gesellschaft (FSG) and Nobiskrug shipyards in Rendsburg and Flensburg is being facilitated through insolvency substitute benefits and a loan backed by the guarantee bank of the state of Schleswig-Holstein.

The search for new investors has commenced, with several potential investors already making visits to the sites.

"We have engaged in initial discussions with potential investors. Their decision to invest positively hinges on the future utilization of the facilities," stated Dr. Christoph Morgen from Brinkmann & Partner law firm, the provisional insolvency administrator of FSG-Nobiskrug Holding GmbH and Flensburger Schiffbau-Gesellschaft GmbH.

"Apart from orders for luxury yachts and the completion of the RoRo ferry in Flensburg, the outlook for future contracts from the navy and the offshore wind industry holds significant importance."

Hendrik Gittermann from REIMER law firm, provisional insolvency administrator of Nobiskrug Yachts GmbH and FSG Nobiskrug Design GmbH, mentioned a strong interest in the Rendsburg site, especially for the construction of luxury yachts.

"The considerable demand at this early stage of the investor search gives me confidence that we will find a workable solution despite the very tight timeline," he remarked.

"I was particularly pleasantly surprised by the many enquiries from abroad. They indicate that the top-notch quality of the yachts produced by Nobiskrug continues to enjoy a stellar reputation worldwide."

The objective of the investor process is to transfer the sites by February 1, 2025, for which the provisional insolvency administrators have enlisted the services of the M&A consulting firm PwC.

Both shipyards are under the ownership of investor Lars Windhorst.

About 500 employees are impacted by the proceedings.

Since its establishment in 1872, the Flensburg shipbuilding company has constructed over 750 vessels.

The Nobiskrug shipyard, in operation for over 120 years, has been a pioneer in luxury superyacht construction since 2000.

Notable projects include the 'Sailing Yacht A' and the eco-friendly hybrid superyacht 'Artefact'.