[4] The yard at Wismar was founded on April 27, 1946 as a Red Army ship repair shop, which was handed over to the German state administration on January 1, 1947.

[5] After the takeover of the old Hanse shipyard , the integration of the site of the former "Hafenschmiede" and the boatyard "Schröder und Schackow", the resulting state-owned company was renamed VEB Mathias-Thesen-Werft Wismar (MTW) on October 31, 1951 .

From the 1950s, a large number of seagoing vessels were built for the trading and fishing fleets of the East Germany (GDR), other Comecon countries and the international market.

The Schwerin lawyer Marc Odebrecht, a member of the law firm Brinkmann & Partner, was appointed as insolvency administrator.

It was not until 2010 that construction of a Nordic AT 19 tanker designed for arctic conditions for the Russian company MMC Norilsk Nickel, worth around 100 million euros, could begin.

In December 2012, the shipyard received a Russian government contract to build two ice-breaking rescue and recovery ships for the Arctic.

The director Dieter Schumann accompanied the slide of the company and its employees into insolvency as well as the rescue maneuvers that were supposed to lead out of it in his film "Wadan's World".

Norddeutscher Rundfunk reported that the shipyard group was having trouble paying bills for the second Global-class cruise ship and expedition yacht Crystal Endeavor being built at the Warnemünde and Stralsund sites; MV shipyards have contacted the KfW and applied for liquidity support from the Corona special program.