German naval architecture firm to be acquired by local partnership

German shipbuilders the Meyer Group and Fassmer have agreed to jointly acquire Rostock-based naval architects Neptun Ship Design.

Neptun will continue to operate under its own name following the acquisition, the approval of which is still pending. Among the first projects to be undertaken by the expanded company will be the development of a new research vessel scheduled to enter service by 2026.

Neptun Ship Design will be the third Rostock-based company to be acquired jointly by Meyer and Fassmer after Neptun Werft and Meyer Neptun Engineering.