PAPENBURG/ROSTOCK (dpa-AFX) - The restructuring team at Meyer Werft, the cruise shipbuilder facing turbulent times, sees a great deal of work ahead to improve the efficiency of the storied company. Above all, eliminating the prevailing "paperwork chaos" within the company is necessary, said Managing Director Bernd Eikens and chief restructuring officer Ralf Schmitz in an interview with the "Neue Osnabrücker Zeitung".

One example: Until now, complaints about work by suppliers during ship delivery have been recorded using yellow slips of paper. "We are in the process of digitizing this, as has long been standard at many construction companies," Eikens said.

Costs Running Out of Control

Shortly before the ships are completed, there is always a rush to meet the schedule, Schmitz said. Many employees even remain on board after the ship is delivered during the transfer voyage to carry out final work. He has always referred to this as the "yellow slip phase."

"When you are under great time pressure and ultimately say: it doesn't matter, the main thing is to get the ship finished, these problems arise and costs spiral out of control," Schmitz said. That is why these processes must be digitized. With the most recent deliveries, things have already become "breathtakingly better": "There's no need to hide it: Huge losses have been incurred here."

Many process workflows have suffered from this "paperwork chaos." Especially in the administrative sector, not all departments have worked with the same numbers and facts in the past. By mid-2027, SAP is to be used stably across the entire company, the two managers explained. Eikens said he currently sees the restructuring process at between 30 and 40 percent complete.

Federal and State Stake

The federal government and the state of Lower Saxony each acquired a 40 percent stake in the financially troubled Meyer Werft just over a year ago. A total of 400 million euros was invested. In addition, they guaranteed a credit line totaling 2.6 billion euros.

In mid-December, the federal government, the state, and Meyer Werft announced a major order from shipping company MSC Cruises: By 2033, the shipyard is to build four cruise ships, with an option for two more by 2035. The order is valued at up to ten billion euros.

Offshore Platforms and Navy Tankers: "Highly Unprofitable" Contracts

The shipyard has also taken on highly unprofitable contracts in the past, Schmitz told the newspaper. For example, there is no suitable machinery for building offshore platforms. These contracts must be completed by hand in huge tents. Another money-loser is the construction of navy tankers, which takes place in Rostock on behalf of the lead contractor NVL-Group from Bremen. "As a result, considerable losses are piling up," Schmitz said./eks/DP/he