In a'speech' published on Monday, the chief executive of TKMS, a -German warship builder - called for consolidation in the defence.industry.

In a transcribed version of the speech that will be delivered at the AGM on February 27, Oliver Burkhard, CEO, said: "For defence capabilities to be established faster, standardisation and industrial consolidation are essential."

He said that money alone cannot build ships, and that the deciding?factor is how quickly industry and clients can act together.

Burkhard stated that TKMS was ready to play a role in the consolidation of Germany and Europe.

After years of stagnation, mergers are increasing in the industry.

TKMS - in which Thyssenkrupp holds a'majority' stake - has made a 'non binding takeover bid for German Naval Yards Kiel. Meanwhile, arms manufacturer?Rheinmetall acquired?the Luerssen defence division. (Reporting and writing by Linda Pasquini; editing by Friederike Hines)

(source: Reuters)