Airbus May Sell Stake in Submarine Supplier

Posted by Eric Haun
Friday, August 22, 2014
Image: Atlas Elektronik

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die Welt reported on its website on Friday, citing industry sources.

Aerospace and defence group Airbus - then called EADS - and German industrial group ThyssenKrupp jointly bought Atlas Elektronik from BAE Systems in 2005, beating out France's Thales.

Die Welt said Airbus was to make a decision on a sale of its stake in the coming months. ThyssenKrupp likely has a right of first refusal, it said.

Airbus declined to comment and ThyssenKrupp said it would not comment on speculation. Atlas said it was up to its owners to comment on the report.

The news comes only days after Germany's economy minister told the country's arms industry that its future lay in consolidation with European peers, as Berlin becomes more cautious on arms exports.

Atlas Elektronik - which makes a range of products for submarines ranging from combat systems to torpedoes, marine minesweepers and communication systems - generated about a third of its 2013 sales of 441 million euros ($584 million) outside Europe, according to Die Welt.

The paper speculated that Thales could launch a fresh approach if Airbus decided to sell its stake, having lost out in 2005 due to political resistance to a foreign firm becoming part-owner in a German defence business.

While governments and industry agree on the rationale for consolidation in the European defence industry, in practice governments often find deals unpalatable for security or domestic political considerations.

Thales declined to comment on the matter.

($1 = 0.7555 euro)

(Reporting by Maria Sheahan; Additional reporting by Dominique Rodriguez in Paris; Editing by Michael Urquhart)

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Damen Outfitting First of Nine Bahamas Patrol Boats

The first of nine Damen Stan Patrol 3007s ordered by the Royal Bahamas Defense Force has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting.

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

New Chinese Shipyard Launches First Ship

The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel,

Navy

Damen Outfitting First of Nine Bahamas Patrol Boats

The first of nine Damen Stan Patrol 3007s ordered by the Royal Bahamas Defense Force has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting.

US Navy: Tortuga Allision Costs CO, XO Their Jobs

USS Tortuga's (LSD 46) Commanding Officer, Cmdr. Thomas Goudreau and Executive Officer, Cmdr. John Fleming, were relieved of their duties Dec. 16, due to loss of

Japan Gains Edge in Australia Submarine Deal

Australia and Japan appear to be inching closer to an agreement on the sale the top-secret technology from Japan to build a fleet of new generation submarines.

Finance

Oil is on the Rise

Oil prices rose in early trading on Monday as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

News

Port Workers in Argentine Grain Hub End Strike

Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said.

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

Subsea Defense

Japan Gains Edge in Australia Submarine Deal

Australia and Japan appear to be inching closer to an agreement on the sale the top-secret technology from Japan to build a fleet of new generation submarines.

Saab to Overhaul Swedish Navy Submarine

Saab has received an order from the Swedish Defense Materiel Administration (FMV) to overhaul the Swedish Navy submarine HMS Södermanland. The order, valued at SEK121 million,

BAE Systems to Upgrade UK Navy Torpedoes

BAE Systems has been awarded a £270 million contract from the U.K.’s Ministry of Defense (MOD) to upgrade the Spearfish Heavyweight Torpedo for the Royal Navy’s submarines.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2513 sec (4 req/sec)