Peene-Werft's record spans two distinct eras of German naval shipbuilding. During the Cold War it produced East German naval vessels at Wolgast, including the Parchim family of coastal anti-submarine corvettes. Current company material presents the yard as a compact but heavily equipped production and repair site with more than 250,000 square metres of production area, a covered dry dock, ship lift, outfitting quay, panel line, pipe facilities, and workshops for naval and coastguard vessels.
The modern yard is part of a northern German naval shipbuilding network. Rheinmetall states that Peene-Werft works with Blohm+Voss, Norderwerft, and Neue Jadewerft within its Naval Systems division. The Wolgast site has been used for the aftships of the German Navy's K130 corvettes, and Damen's F126 reporting identifies Peene-Werft as the Wolgast production location for stern sections and the keel-laying site for the first F126 frigate.
Naval vessel constructionCoastguard vessel constructionShip repair, refit, and maintenanceSteel, aluminium, and stainless-steel section manufacturingProduction-related naval design through Konstruktionsbuero Ost
Public sources use several English and German variants for the Wolgast yard, including Peene-Werft, Peenewerft, and Wolgaster Peenewerft. Current corporate context follows Rheinmetall after the completed NVL takeover in 2026; older sources may describe the same yard under Luerssen or NVL ownership.