Updated January 1, 2021, 1:18 pm
Schwerin / Wismar (dpa / mv) – The impending insolvency of MV Werften has been averted for the time being. With the support of the state government, the company managed to come under the protective umbrella of the Federal Economic Stabilization Fund and, as a first step, to receive a loan of 193 million euros, said the Ministry of Economic Affairs in Schwerin.
This could complete the construction of the luxury ship Endeavor 1 and cover operating costs until March. This is an important step, said Minister of Economic Affairs Harry Glawe (CDU) on Thursday. MV Werften belongs to the Asian conglomerate Genting Hong Kong.
In the past few weeks, intensive negotiations with the federal government about a second step – the continuation of production and delivery of the cruise ship Global 1 by June 2022 – continued Glawe. “The federal government and Genting have now agreed on the next steps with which Genting can receive further aid from the federal government’s economic stabilization fund and thus enable MV Werften to continue its business.” This enabled the country to finally release further funds from an account with collateral in the amount of around 53 million euros.
Genting took over MV Werften in 2016 to build cruise ships for its own needs. Due to the Corona crisis, however, the cruises broke down worldwide and thus one of the group’s most important sources of income. Therefore, the work was stopped.
© dpa
