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FSG YARD AGAIN SAVED FROM CLOSURE

Monday, September 7, 2020 

In line with previously-announced proposals, a consortium of companies belonging to Tennor Holding have taken over the 350 employees of German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) as well as the assets of the shipyard, within the scope of a transferable restructuring.

In order to continue the restructuring process started in the insolvency proceedings, new MDs Stefan Kindler and Tarek Malak, seconded by Tennor Holding, will aim to further build up the organisation.

By the winter of 2020, the new management expects to hand over the running of the yard to a new, highly experienced, management team. Talks concerning this move are said to be already well advanced. The new management's task will be to give FSG a strategic orientation and to win further shipbuilding contracts in both the commercial and military newbuilding sectors.

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