German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) began operations under the ownership of companies belonging to Amsterdam-based global investment firm Tennor Holding effective September 1, 2020.
The shipyard's assets and all 350 of its employees have now been taken over by Tennor, which has also assigned two new managing directors as part of an agreed upon restructuring process in compliance with German insolvency laws.
Both Tennor and FSG claim that, by the winter of 2020, a new management team will take over operations at the shipyard partly to help secure further newbuilding contracts with both civilian and military clients.
