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Friday, March 29, 2024

Celsius To Create Substantial Submarine Builder

Maritime Activity Reports, Inc.

September 22, 1999

Swedish defense group Celsius announced that it was merging unit Kockums Naval Systems with Germany's Howaldtswerke-Deutsche Werft (HDW) to create a leading global player in submarines as the defense sector consolidates. Celsius signed a contract with Babcock Borsig and HDW parent company Preussag, Germany's tourism and industrial group, to form a European shipbuilding company.

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