The Federal Government and the state of Lower Saxony in Germany are working on a plan to save the systemically relevant Meyer Werft in Papenburg. The shipyard, which is an important part of the maritime industry in Germany, is facing difficulties due to the impact of the pandemic and rising costs.
The government aims to provide financial support, including equity and guarantees for bank loans, to help the company overcome its financial challenges. The rescue plan requires approval from the Bundestag and the EU Commission.
The Meyer Werft has a full order book, including a major order from Disney Cruise Line, and is crucial for the preservation of thousands of jobs. The government's intervention is temporary and aims to create a foundation for the company's future in the private sector.
The final details of the rescue plan are still being negotiated. The Meyer Werft is an important economic factor in the region, with thousands of jobs directly and indirectly dependent on its operations.
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