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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Finance

Shipping, Key Ingredient of EU’s Africa Agenda

The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa

Ocean Economy Set to Double in Size by 2030

The world’s oceans must be managed well to ensure the potential of an “ocean economy” that was worth US $ 1.5 trillion in 2010.   "Calculations based on the

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation 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: 0.1042 sec (10 req/sec)