Thyssenkrupp Marine System is to take over the MV Werften shipyard in Wismar, but as the new owner of the facility will focus on naval work, cruise ship building will end. 

“With a view to the future, Thyssenkrupp Marine Systems could produce submarines in Wismar during the course of 2024. The main impetus for this is an order for more submarines from the German government and the resulting investments in the upgrading of the shipyard,” the company said in a statement.

MV Werften was part of the Genting Hong Kong group that collapsed in the winter. It also had facilities in Stralsund and Rostock-Warnemunde plus Bremerhaven, where it owned the Lloyd Werft ship repair yard. This has been sold earlier for another buyer.