Germany: A group of investors has purchased Cassens Werft, located in Emden.
Company management will not change and all 70 employees will be kept on.
With the company's 17-month insolvency proceedings now shelved, Cassens Werft will focus on restructing and changing its focus. Cassens' Managing Director, Christian Hohagen, said that the company would focus on the construction and repair of specialist vessels such as small cruise ships and start the manufacture of heavy steel products. Mr Hohagen observed that the shipyard was well positioned to handle heavy cargo such as steel and that it fits well into the company's business portfolio.
Mr Hohagen said that despite the company's cashflow issues, the company has been active for the past two years. The yard is to deliver a newbuild construction vessel for wind turbine manufacturer, Enercon, this year.
