German Shipyards Propose Merger

Friday, September 10, 2004

On May 16, 2004 ThyssenKrupp and One Equity Partners (OEP) signed a non-binding letter of intent to combine ThyssenKrupp Werften and Howaldtswerke-Deutsche Werft (HDW) in a new group under the control of ThyssenKrupp Werften GmbH. The alliance will create a systems house with strong positions in the naval shipbuilding sector. "Under the new structure all existing locations will be retained," says Dr. Olaf Berlien, Chairman of the Executive Board of ThyssenKrupp Technologies AG. Based on the existing key activities of the individual shipyards, the new group will concentrate on four product areas: submarines, naval ships, civilian ships and repairs. The locations Hamburg, Emden and Kiel will each be developed into centers of excellence with clearly defined product responsibility. This will safeguard the locations long-term and create a balanced development perspective. The Hamburg location will concentrate on naval surface ships and mega yachts as well as the repair business. Emden will be the location for naval and merchant surface ships, while the submarine activities will be concentrated in Kiel. It is envisioned that the new structure offers decisive advantages for project management compared with the current common practice of work sharing for submarines and naval ships. In addition, the concentration of each activity at one main location will reduce logistics expense in the future. The merger agreements are to be signed until the end of September. Subject to the approval of the relevant supervisory bodies of both partners and the competent authorities, the merger is expected to be completed until the end of December.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Respopnds to Sunken Vessel Near Sitka, Alaska

The Coast Guard is responding to the sinking of a fishing vessel in Kelp Bay near Sitka Friday. Coast Guard personnel from Sector Juneau, the Coast Guard

Next LCS to be Named USS Minneapolis/St. Paul

Secretary of the Navy Ray Mabus announced today that the next Freedom-variant littoral combat ship will be named USS Minneapolis/St. Paul (LCS 21). The future Minneapolis/St.

Hapag-Lloyd Adds 6,000 Reefer Containers

In order to profit from the growing reefer markets in South America and Asia, Hapag-Lloyd has ordered 6,000 cutting-edge reefer containers – more than ever before in the company’s history.

Finance

Next LCS to be Named USS Minneapolis/St. Paul

Secretary of the Navy Ray Mabus announced today that the next Freedom-variant littoral combat ship will be named USS Minneapolis/St. Paul (LCS 21). The future Minneapolis/St.

MSC Upgrades Europe-West Africa Service

As part of our objective to continually improve our services to customers, MSC is delighted to announce an upgrade to its Angola Express service with a first

Imtech Germany to Be Sold in November

The German unit of bankrupt Dutch engineering services company Imtech is expected to be sold in November, according to Imtech Germany's insolvency administrator.

 
 
Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1611 sec (6 req/sec)