Norwegian shipbuilding group Fosen Yard has entered into an agreement with the investment group Deutsche Industrieanlagen and Patrick Hennings-Huep, the previous owner of the bankrupt German yard Nordseewerke Emden Shipyard (NES), to establish a joint venture Fosen Nordseewerke.
The jv is taking over the ongoing business of NES and forming an international shipbuilding group covering the complete value chain from design, engineering, hull construction, outfitting, commissioning and final delivery.
NES , a shipyard with 115 years of history, filed for bankruptcy at the end of August. The shipyard has built more than 620 ships over the last century and has been active in the areas of commercial, cruise and navy vessels.
Fosen believes the combined experience and resources of the partners will enable Fosen Nordseewerke to be a competitive player, offering cost efficient and tailormade solutions to its customers.
Fosen Nordseewerke will mainly offer services in the passenger, offshore and naval industry.
“We are delighted to now being able to offer control of the full value chain solution to our current and potential clients again. The Fosen Nordseewerke and Fosen Yard will become a complete setup utilising the synergies and complementary skills and competences across both companies. I am looking very much forward to get to know the operations and employees at Fosen Norseewerke better, and to start working together with them building our common future,” said Anders Straumsheim, CEO of Fosen.