German shipyard files for insolvency

A switch to heavy lift and wind farm ships has failed to save the Sietas yard

The management of J.J. Sietas KG Schiffswerft GmbH u Co and J.J. Sietas Verwaltungs GmbH have filed a petition for insolvency at the Municipal Court Hamburg on 17 November 2011, due to over-indebtedness.

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