German Government Moves to Secure Meyer Werft's Future: A Historical Industrial Crown Jewel

German Chancellor Olaf Scholz assured Meyer Werft employees of government efforts to secure the future of the historic shipyard. Scholz emphasized its importance as an industrial crown jewel while detailing the necessity for parliamentary and European Commission approval for state support.

German Chancellor Olaf Scholz assured workers at Meyer Werft on Thursday that the government was collaborating with company owners and banks to ensure the shipyard's future, which is pivotal in luxury cruise liner construction.

In a speech during a works council meeting, Scholz called Meyer Werft an 'industrial crown jewel' with a storied 227-year-old history. However, he noted that specifics of state intervention still require approval from both the German parliament and the European Commission.

'We all want to secure the continued existence of the shipyard - and with it everything that depends on it,' Scholz emphasized, underscoring the broader impacts on related industries and communities.

(With inputs from agencies.)