Karl WP Beyer July 31, 2024 – MEYER Werft, which is currently experiencing a serious liquidity bottleneck, is being restructured. Also involved: the well-known Management consultancy Deloitte, a new CEO, a restructuring expert and last but not least the Meyer family.
A first step towards restructuring the company is to simplify the group structure. To this end, MEYER WERFT GmbH & Co. KG will transfer its entire shipyard and business operations to its parent company, MEYER NEPTUN GmbH, probably on August 31, 2024. All assets and legal relationships of MEYER WERFT GmbH & Co. KG will automatically be transferred to MEYER NEPTUN GmbH by way of so-called universal succession. This includes the transfer of all tangible and intangible assets, all employment relationships and customer relationships of MEYER WERFT. The measure does not entail any job cuts - beyond the framework agreement already concluded for this purpose.
MEYER Werft - crossing at the visitor center
In a next step, the supplier companies that are essential for the business operations of the MEYER Group, some of which currently still operate outside the MEYER Group, will be transferred to the new structure under the parent company.
Both measures represent the next important step towards securing the future of the company and its employees. The preparation of the final report by mid-September is intended to conclusively confirm the company's ability to be restructured.
Meanwhile, in a joint statement on July 22, 2024, the company's CEO, Bernd Eikens, and the appointed restructuring expert Ralf Schmitz expressed their confidence: "Even if we still have a long way to go, we are convinced that the company has the substance, the employees, but also the will to make a joint effort to get the shipyard back on track for growth." The preliminary report generally attests that MEYER WERFT is "capable of being restructured and is worthy of being restructured," says Ralf Schmitz.
MEYER shipyard - building dock
Conclusion: All that is missing is a little additional liquidity or government guarantees as well as a few construction contracts for cruise ships to get MEYER NEPTUN GmbH back on track in stormy times.