New work as German yard changes hands

Germany’s Luerssen Group has taken over the Peene-Werft in Wolgast as planned and has said it will transfer new naval work to the former P&S Werften facility, reports Tom Todd.

German media reports quoted new owner Friedrich Luerssen saying Peene-Werft will be used for naval and merchant repair and to support yacht newbuilding.

That news was not unexpected, but it is the first comment reported from Luerssen on its plans for Peene-Werft since it bought the yard for €17 million last December in the wake of P&S bankruptcy. A buyer is still being sought for sister yard Volkswerft in Stralsund.

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