Neorion Shipyards on Syros in Operation Again, Soon to Change Hands

The Neorion Shipyards on Syros is in operation again after being inactive for one year and is soon to be transferred to ONEX Shipyards, a Kathimerini newspaper report says.

Αccording to Kathimerini, the necessary procedures for the submission of the consolidation plan for ratification to the judicial authorities is completed. ONEX Shipyards will acquire 100 percent of the company shares from the N. Tavoularis Group and will assume all obligations towards banks, the State, workers and suppliers, which add up to about € 64 million.

ONEX Shipyards stated that all necessary procedures for the concession will be completed by the end of May.

Greek Prime Minister Alexis Tsipras referred to the sale of the Neorion Shipyards on Syros during his recent visit to the island. Tsipras said that in three or four months the historic shipbuilding and repair unit will pass into the hands of the investor.