Sietas Shipyard sold to Russians

From left: Frank Horch, Hamburg’s senator for economy, Garegin G. Tsaturov, co-owner of Pella Shipyard, Natallia Dean, managing director Terraline, and Berthold Brinkmann, insolvency administrator of Sietas Shipyard

After a two-year period, German insolvency administrator Berthold Brinkmann has announced a deal to sell the JJ Sietas shipyard in Hamburg to Pella of St Petersburg.

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