Rescue Plan Emerges for Germany’s FSG and Nobiskrug Shipyards

At a press conference on Friday, January 31, at the now closed FSG Shipyard (Flensburger Schiffbau-Gesellschaft) the provisional insolvency administrators announced their rescue plan for the group’s two shipyard groups. They have reached terms for the two divisions to be sold independently of each other but also reported that investor Lars Windhorst continues to oppose the bankruptcy of the shipyard group.

“We have managed to find two renowned strategic investors for FSG and Nobiskrug within the extremely tight time frame of just seven weeks,” said lawyer Christoph Morgen who is the provisional insolvency administrator for FSG. He also oversaw the previous insolvency of the company and the sale of the former MW Werften. According to Morgen, the best outcome has been reached for FSG ensuring the yard will resume work.

The group was forced into bankruptcy in December 2024 by insurance administrators with reports employees had not been paid …