HELD IN CUSTODYBERLIN - Friedrich Hennemann, former Bremer Vulkan Verbund AG chairman, once the most important figure in the German shipbuilding industry, is in custody while police investigate possible illegal diversion of shipbuilding subsidies. Mr. Hennemann's arrest Thursday came after authorities executed search warrants at 29 sites in Bremen, Wismar and Stralsund where the now-bankrupt Bremer Vulkan operated offices and shipyards. Prosecutors are seeking evidence into the diversion to Vulkan's other operations of up to $560 million in subsidies that were supposed to have helped the company's former eastern German shipyards.
Prosecutor Hans Janknecht said Mr. Hennemann was being held at a low-security facility to prevent him from fleeing the country or destroying evidence. No charges had been filed Monday.
UNION VOTES TO STRIKE
AT HANJIN SHIPYARD
SEOUL - Union members walked out of South Korea's fourth-largest shipyard, Hanjin Heavy Industries, on Monday after voting for a strike, as other yards and the giant Hyundai Group braced for walkouts. About 1,120 workers, or 91.8 percent of the membership, cast yes votes after failing to reach an agreement in last-ditch wage talks, Hanjin said. The union is demanding reinstatement of dismissed workers, a 15.9 percent pay raise and shorter hours.
A Hanjin spokesman said the workers would return to work today, but they would go on a slowdown until Friday, the final union-set deadline for a settlement. If no settlement is reached, they will start a full strike, he said.
Workers at Hyundai Heavy Industries Co. and Daewoo Heavy Industries, the country's two largest shipyards, also reported labor disputes.
SEATTLE WINS GRANT
FOR REPAIR SITE
SEATTLE - The Port of Seattle got some good news recently from the Department of Commerce, which awarded it a $1.2 million grant to renovate the Maritime Industrial Center on Salmon Bay, a former Coast Guard buoy repair facility that the port is turning into a short-term repair site for fishing vessels.