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

People & Company News

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

SoCal Beach Cleanup Could Take Months

The U.S. Coast Guard captain overseeing cleanup of oil spilled from a pipeline rupture that closed two California state beaches and fouled offshore waters near

MPC Honors Crowley for Tank Vessel Safety

Crowley Maritime Corporation’s petroleum services division has once again been honored by Marathon Petroleum Company (MPC) with its annual Elite Vessel Award, which

Shipbuilding

ERMA Bullish on Ballast Water Treatment

After having delivered several BWTS systems in Kita Nihon shipyard in Japan, one more ERMA FIRST BWTS was successfully installed onboard the Bulk Carrier M/V SCARABÉ(DWT: 60,

USS Freedom (LCS 1) Completes Rough Water Trials

The littoral combat ship USS Freedom (LCS 1) completed Seakeeping and Structural Loads Trials, commonly referred to as Rough Water Trials (RWT) in late March the Navy reported May 21.

Conrad Announces Management Team Changes

Conrad Industries, Inc. announced the appointment of Scott J. Theriot as Executive Vice President and Chief Operating Officer.   Johnny Conrad, President and Chief Executive Officer,

Navy

Myanmar Finds 200 Bangladeshis in Offshore Boat

Myanmar's navy found a boat carrying more than 200 Bangladeshis, the government said on Friday, after the military chief said some migrants landing in Malaysia

HMAS Anzac Visits Portsmouth, UK

The Royal Australian Navy’s helicopter frigate HMAS Anzac has arrived in Portsmouth, England, as part of her NORTHERN TRIDENT 2015 deployment.   Anzac departed Sydney in March 2015,

China, Russia Conclude Naval Drill

Russia and China naval forces concluded their first-ever joint military exercise in the Mediterranean Sea this morning, according to an online news briefing from the Chinese Defense Ministry.

Finance

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

Shipping Freight Rates Drop Amidst Overcapacity

Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility

WFP: Aid Cargo for Yemen will be Delivered After Ship Docks

The World Food Programme will deliver a cargo of Iranian aid for Yemen once the ship carrying it reaches Djibouti's port, the U.N agency said on Friday. Earlier

News

USCG Tall Ship Sailing to the Bahamas

The U.S. Coast Guard Cutter Eagle is scheduled to arrive at Berth 14 at Prince George Wharf in Nassau, Bahamas on Thursday, May 28 as part of its 2015 cadet summer training deployment.

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

SoCal Beach Cleanup Could Take Months

The U.S. Coast Guard captain overseeing cleanup of oil spilled from a pipeline rupture that closed two California state beaches and fouled offshore waters near

Subsea Defense

China, Russia Conclude Naval Drill

Russia and China naval forces concluded their first-ever joint military exercise in the Mediterranean Sea this morning, according to an online news briefing from the Chinese Defense Ministry.

EU Backs Migrant Crisis Naval Plan

EU foreign ministers have agreed to launch a military mission against migrant smugglers in the Mediterranean.    The decision allows European governments to

US Navy Lays Keel for PCU Indiana

The U.S. Navy held a keel laying ceremony for the Virginia-class submarine Pre-Commissioning Unit (PCU) Indiana (SSN 789) at Huntington Ingalls Industries, Newport News Shipbuilding, May 16.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Ship Repair 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: 0.1981 sec (5 req/sec)