The Geestemünde marine engineer Max Sieghold (1899-1955) gave up service at sea for medical reasons in 1924. On December 15th that year, he founded a mechanic's workshop, which was transferred to the fishery port area in 1926 and later developed into a repair yard combined with engineering works. A floating dock was purchased in 1937 and moored at the east side of Basin II, this giving a boost to the already existing ship repair business.
In 1950, the first new vessel was launched. After Max Sieghold´s death, his brother, the Geestemünde banker Heinz Sieghold (1898-1973), continued running the yard and he was succeeded by the founder’s two sons, Heinz and Gralf Sieghold. The general post-World War II boom enabled an expansion of the activities of the firm, whose workforce averaged about 300 people. Since 1964, oil rigs were repaired, and tugs, coastal tankers, fishery craft and other special purpose vessels were built. In 1988, the yard was sold to the Bremer Vulkan group (which later collapsed in 1996) and was closed down in autumn the same year.