press release together under the umbrella of the german

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Seite 1 German Dry Docks AG Barkhausenstraße 60 I 27568 Bremerhaven BREDO Dockgesellschaft mbH Dockstraße 19 I 27572 Bremerhaven Mützelfeldtwerft GmbH & Co. KG Woltmanstraße 2 I 27472 Cuxhaven PRESS RELEASE Together under the umbrella of the German Dry Docks Group: Shipyard alliance of GDD, BREDO and Mützelfeldwerft As of February 1, 2017 German Dry Docks AG (GDD), BREDO Dockgesellschaft mbH (BREDO) and Mützelfeldwerft GmbH & Co. KG will form a shipyard alliance under the umbrella of the German Dry Docks Group. The shipyards will preserve their independence and continue to trade in the market with their names. In the future the three locations will be managed by Guido Försterling (GDD) and Dirk Harms (BREDO). The aim is to harmonize the business segments with a cross-site dock planning. Customers of all three companies will benefit from the common higher flexibility and dock capacity. The shipyard alliance is an important component in order to offer repairs in Germany at the same prices but with even more service. "Cross-site dock planning is a key element of our strategy," says Harms. "Each shipyard has had to reject orders in the past when its own docks were occupied. Together, we are now able to offer a higher dock capacity and react directly to fluctuating workloads at the sites. The harmonization of the processes allows us to react to customer requests in a highly flexible and cost-efficient manner. We are hereby establishing a link between the rivers Weser and Elbe." According to Guido Försterling, both the customers as well as the shipyards with their employees benefit from the combination of the forces. "All three shipyards are specialized in ship repair with a 24/07 service and complement each other in their know-how. Thanks to the alliance the region is closing ranks. This is also a strong signal in international competition."

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Seite1

GermanDryDocksAGBarkhausenstraße60I27568Bremerhaven

BREDODockgesellschaftmbHDockstraße19I27572Bremerhaven

MützelfeldtwerftGmbH&Co.KGWoltmanstraße2I27472Cuxhaven

PRESSRELEASETogetherundertheumbrellaoftheGermanDryDocksGroup:ShipyardallianceofGDD,BREDOandMützelfeldwerft

As of February 1, 2017 German Dry Docks AG (GDD), BREDO Dockgesellschaft mbH (BREDO) and Mützelfeldwerft GmbH & Co. KG will form a shipyard alliance under the umbrella of the German Dry Docks Group. The shipyards will preserve their independence and continue to trade in the market with their names. In the future the three locations will be managed by Guido Försterling (GDD) and Dirk Harms (BREDO). The aim is to harmonize the business segments with a cross-site dock planning. Customers of all three companies will benefit from the common higher flexibility and dock capacity. The shipyard alliance is an important component in order to offer repairs in Germany at the same prices but with even more service. "Cross-site dock planning is a key element of our strategy," says Harms. "Each shipyard has had to reject orders in the past when its own docks were occupied. Together, we are now able to offer a higher dock capacity and react directly to fluctuating workloads at the sites. The harmonization of the processes allows us to react to customer requests in a highly flexible and cost-efficient manner. We are hereby establishing a link between the rivers Weser and Elbe." According to Guido Försterling, both the customers as well as the shipyards with their employees benefit from the combination of the forces. "All three shipyards are specialized in ship repair with a 24/07 service and complement each other in their know-how. Thanks to the alliance the region is closing ranks. This is also a strong signal in international competition."

Seite2

GermanDryDocksAGBarkhausenstraße60I27568Bremerhaven

BREDODockgesellschaftmbHDockstraße19I27572Bremerhaven

MützelfeldtwerftGmbH&Co.KGWoltmanstraße2I27472Cuxhaven

In addition to the shipyard alliance, the German Dry Docks Group also includes MWB Power with the motor mervices division as well as German Ship Repair and Rotterdam Ship Repair with its business segments harbour and voyage repairs. Facts and figures German Dry Docks operates 5 docks in the Kaiserhafen in Bremerhaven. BREDO operates 4 docks at its location Fischereihafen in Bremerhaven. The Mützelfeldtwerft operates 1 Dock in the Amerikahafen in Cuxhaven. Press contact

German Dry Docks Group Daniela June

Management Assistant

Phone: +49 471 9450 385

[email protected]