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

People & Company News

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

Shipbuilding

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Newport News Lays Keel for Virginia-Class Sub

Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII), hosted a keel-laying ceremony Saturday for the future USS Washington (SSN 787), a

Navy

US Navy Evaluating SEWIP for LCS

The U.S. Navy is evaluating a scaled-down version of the Surface Electronic Warfare Improvement Program (SEWIP) system for potential incorporation on future Littoral Combat Ships (LCS),

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Newport News Lays Keel for Virginia-Class Sub

Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII), hosted a keel-laying ceremony Saturday for the future USS Washington (SSN 787), a

Finance

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Shipbuilding Regulations: Cents and Sensibility

Addressing the Jones Act is just one aspect of an increasingly complicated boatbuilding environment. Stovepiped, poorly conceived regulations is another. The sting of the recession is fading,

Ship Broker Clarkson Looks to Acquire Platou

Top ship broker Clarkson is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create

News

US House to Hold Hearing on Oil Export Ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Subsea Defense

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Newport News Lays Keel for Virginia-Class Sub

Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII), hosted a keel-laying ceremony Saturday for the future USS Washington (SSN 787), a

NUWC Newport Holds Change of Command

Capt. Howard Goldman relieved Capt. Todd Cramer as commander of the Naval Undersea Warfare Center (NUWC) Division Newport during a change of command ceremony on Friday, Nov.

 
 
Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1850 sec (5 req/sec)