Chancellor Scholz to Visit Meyer Werft Amid Financial Struggles

German Chancellor Olaf Scholz is set to visit Meyer Werft, raising union hopes for government support. The shipbuilder faces a €2.7 billion financial gap after pandemic-induced order declines. The visit signifies potential positive news for the company, workforce, and region, with state officials also attending.

German Chancellor Olaf Scholz will visit shipbuilder Meyer Werft on Thursday, sparking union hopes for government support as the company struggles with a €2.7 billion financial gap. Meyer Werft, a major cruise ship builder, has faced a decline in orders due to the pandemic.

The company finances the construction of luxury liners, with customers paying the bulk upon delivery. The visit is seen as a positive sign for the workforce and region, according to Thomas Gelder of the IG Metall union.

State officials, including Lower Saxony's state premier and economy minister, will also attend the works council meeting. A press conference is scheduled post-meeting, with discussions of possible state support for Meyer Werft, as it plans job cuts and seeks €2.3 billion in working capital and €400 million in equity.

(With inputs from agencies.)