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MEYER YARDS FORM PIPEWORK JV

Monday, July 15, 2019 

The shipayrds in the Meyer Group are intensifying a strategic relationship with long-standing tube manufacturing partner Stengel.

The two companies have joined forces to set up a new undertaking: Meyer Stengel Tubes UAB based in Vilnius, Lithuania as a specialist for pipe isometrics to supply all three Meyer sites in Papenburg, Warnemünde and Turku from 2020. This step became necessary in the face of increasing cost pressure from state-owned Chinese shipyards which are building more and more special ships and cruise liners, a market which was previously dominated by Europe.

For the first time, the Meyer Group is due to deliver five cruise ships in one year to international customers. This order volume results in high capacity rates for pipe production. By 2022 the Meyer Group's demand for pipe isometrics is expected to increase by about 60% and cannot be covered by the existing pipe production facilities.

With the new company in Lithuania, Meyer is bringing employment to a European location that offers a mature infrastructure together with a qualified workforce. The Meyer Group has been cultivating business relationships with Lithuania for many years, with components for washrooms being supplied to the yards’ cabin production divisions.

Additional capacity is being generated at the site in Papenburg through investment in new pipe bending machines in the Meyer Werft Pipe Center, said to be one of the most advanced pipe production facilities in Europe.

This decision is a consistent step forward in the Meyer Group’s strategy to become a leading European shipbuilding company by further boosting the pooled European ex-pertise on the cruise market.

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