New German Shipbuilding Group Emerges

Friday, August 13, 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.

The reciprocal due diligence reviews have now been successfully completed and the basic outlines of the new structure are in place:

"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.

Talks on this are currently being conducted with the employee bodies. A personnel capacity plan based on the product allocation is being prepared. 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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Hapag-Lloyd, CSAV Merger Finalized

Hapag-Lloyd and CSAV binding agreement signed / In return for contributing its container business, CSAV becomes new core shareholder of Hapag-Lloyd / Hapag-Lloyd

MAS Debuts Exclusive Armor Systems

Following on from the continued success of the product, Marine Armor System (MAS) announced its global launch and updated website. MAS is a nonlethal vessel

All Items Approved at Stolt-Nielsen Meeting

Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda.

Finance

All Items Approved at Stolt-Nielsen Meeting

Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda.

Three European firms win Angola deepwater deals

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger

Litigation Can Cost Shipbrokers an Arm & a Leg

A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Sonar
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: 0.1375 sec (7 req/sec)