• 2014 February 12 13:40

  Shipyard Pella buys Sietas shipyard (Germany) (photo)

  

  Shipyard Pella (Leningrad region) has acquired shipyard Sietas (Germany) which became a bankrupt two years ago and had been looking for an investor ever since, press center of Sietas informs.
  
  By the end of 2016, Pella is going to raise the number of the shipyard personnel from 120 to 400. Besides, Pella plans to invest at least EUR 15 mln into Sietas infrastructure by the end of 2016.
  
  The purchase-and-sale contract has been signed with Terraline GmbH (Hamburg, Germany, owned by Pella.) which will be renamed Pella Sietas GmbH when the sale is closed. The deal comes into effect form March 10, 2014. The parties have agreed not to disclose the amount of the transaction.

  “The Buyer undertakes to operate the enterprise as a shipyard for at least eight years”, the statement says.
  
  Leningrad Shipyard Pella was founded in 1950 and privatized in 1992. The holding incorporates a head company and a number of subsidiaries. The shipyard specializes in construction of tug boats for Russian customers.

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