The German yacht builder Nobiskrug, along with its sister shipyard FSG, is fighting for survival. Sharp criticisms have emerged from the state of Schleswig-Holstein, prompting investor Lars Windhorst to respond.
In a letter to Claus Ruhe Madsen, the Economics Minister of Schleswig-Holstein, Windhorst defends himself against what he calls “personal attacks” in recent times. He acknowledges that the situation at the two shipyards is undeniably “challenging” but emphasizes that he did not create these difficulties at FSG and Nobiskrug. Since becoming an investor, he has been “doing everything possible to save the shipyards from collapse.”
The “personal nature of the attacks,” Windhorst claims, reminds him of the case of media mogul Leo Kirch in 2002, whose empire was driven into insolvency at the time by comments made by Deutsche Bank CEO Rolf Breuer.
State fears imminent insolvency at FSG-Nobiskrug
Madsen had stated that, from his perspective, the shipyard group’s insolvency was nearly unavoidable. According to the Economics Minister, there are investors interested in the shipbuilding companies, but they neither wish to negotiate with Windhorst nor see him remain involved in the company.
In response, Windhorst is now demanding the names and details of the takeover offer so he “can consider and assess whether I want to sell the shipyards under these terms,” writes the controversial owner.
Are there new investors? Windhorst demands clarity
Before the Economics Committee of the Schleswig-Holstein Parliament, Madsen ruled out state involvement in the shipyards. Any further assistance, such as guarantees, would only be available to new owners.
Over the past few months, FSG and Nobiskrug have repeatedly delayed payment of wages and salaries. At times, the workforce has been placed on temporary leave. According to reports, there are currently no new shipbuilding orders.
