Two German shipyards belonging to financial investor Lars Windhorst’s Tennor Group are again facing an uncertain future.
Most of the 500 workers at the Flensburger Schiffbau-Gesellschaft (FSG) and the Nobiskrug shipyard in Rendsburg have been laid off until further notice, according to trade union sources.
That marks the failure of efforts to restructure the shipyards, which have become embroiled in financial problems facing the German shipbuilding sector.
Martin Bitter, head of IG Metall trade union Rendsburg division, said: “We tried a year ago to pursue the path to restructuring together with Lars Windhorst. This attempt failed.
“We have to consider an insolvency scenario very seriously.”
The two shipyards were initially rescued from insolvency by Windhorst’s Tennor Group in 2020.
Hopes were high that the FSG yard could make a mark in the ferry sector. It has instead suffered from a shortfall in orders, Germany’s Frankfurter Allgemeine reports.
Fresh start
More recently, the holding company has faced problems after losing a legal dispute with US-based McCourt Global which has forced the sale of many Tennor assets.
The sales could have included the shipyards, although NDR information reports that by last week no buyer had been found for Tennor Maritime Holding, which owns the yards.
Trade unions have demanded “a fresh start” for the yard without Windhorst or his companies, and local politicians are calling for state intervention with alternative investors.
IG Metall Flensburg managing director Michael Schmid said: “If FSG and Nobiskrug are to have a future, then a clear break is needed now.
“Eighty employees at both shipyards are still waiting for their September pay, social security contributions have been outstanding for months, and the minimum requirements for safe and functional workplaces have not been met for some time,” he said.
About 150 employees gathered in front of the Flensburg shipyard to demand payment of outstanding wages earlier this week.
Further employee action is planned at both shipyards later this week, according to unions.
