Liquidator Finds a Buyer for Genting Hong Kong Ship Yard

Historic shipyard Lloyd Werft Bremerhaven will be acquired by the local consortium of Rönner Group and Zech Group.

Seatrade Cruise News reports that a German court-appointed liquidator has found a buyer for well-known shipyard Lloyd Werft Bremerhaven.

The historic shipyard Bremerhaven has been sold to the local consortium of Rönner Group and Zech Group. Lawyer and appointed liquidator Christoph Morgen announced that a contract of purchase had been signed late Friday evening.

Morgen is the insolvency administrator of the parent company MV Werften in Mecklenburg-Western Pomerania. Morgen said, "For two days, we conducted intensive negotiations with different bidders," it said. The new owners are the Bremen contractor Kurt Zech and the Bremerhaven steel and shipbuilder Thorsten Rönner.

In addition to the insolvent operating company Lloyd Werft Bremerhaven, the Rönner-Zech Group also took over the non-insolvent holding company Lloyd Investment and Management Company, Morgen said. The aim is to withdraw the bankruptcy application.

In this way, all creditors would get their money and the employees of the shipyard would keep their employment relationships unchanged.

According to the restructuring experts Morgen, the Rönner-Zech Group has agreed to present a business plan.