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German Industrial Group News

20 Aug 2019

ThyssenKrupp Expands EU Logistics Network

German industrial group thyssenkrupp AG. Materials Services  is investing around 70 million euros in the modernization and expansion of its European warehousing and logistics network.A state-of-the-art logistics center and new warehouses are to be built in Germany, Poland and Hungary, said thyssenkrupp Materials Services.The distribution and service provider of the thyssenkrupp Group said that the investments are an important part of thyssenkrupp Materials Services’ strategy. Under its “Materials as a Service” approach, the western world’s biggest materials distributor is focusing on expanding its portfolio of services supplementing its core business.“Expanding and modernizing our capacities are important elements of our growth…

13 Jul 2018

Thyssenkrupp Taps Kerkhoff as Interim CEO

Guido Kerkhoff (Photo: Thyssenkrupp)

Chief Financial Officer Guido Kerkhoff was named interim CEO of Thyssenkrupp on Friday and won the backing of the German industrial group's biggest shareholder, as the search began for a permanent replacement for Heinrich Hiesinger.Hiesinger quit last week after failing to win unanimous shareholder backing for a deal to create a steel venture with India's Tata Steel.Kerkhoff, 50, will run the company until the process of finding a Hiesinger's replacement is completed, Thyssenkrupp Chairman Ulrich Lehner said…

30 Nov 2015

Thyssenkrupp Bids for Australian Sub Contract

German industrial group Thyssenkrupp has submitted an offer to the Australian government for a contract to build stealth submarines potentially worth tens of billions of euros, the company said on Monday. The contract to build up to 12 submarines, including decades of maintenance, could be worth $35 billion and has drawn interest from French shipping group DCNS as well as a Japanese consortium led by Mitsubishi Heavy Industries and Kawasaki Heavy Industries. Reporting by Tom Kaeckenhoff

15 Oct 2015

Thyssen Manager to Focus on Australian Sub Deal

German industrial group ThyssenKrupp is moving one of its top managers to focus on a hotly contested $35 billion bid to build stealth submarines for Australia, it said on Thursday. Hans Christoph Atzpodien, 60, will leave his post as head of the German group's Industrial Solutions division to concentrate on Marine Systems, one of the division's four units, which includes submarines, naval vessels and ships. "The bidding for the Australia project in particular is a major opportunity for Marine Systems requiring the full attention of its top management," the Essen-based steel-to-elevators group said in a statement. ThyssenKrupp is competing with a Japanese consortium and French state-owned naval giant DCNS for the contract.

23 Feb 2015

ThyssenKrupp Committed to Australian Submarine Process

Germany's ThyssenKrupp is determined to take part in a selection process it hopes will take place to build Australia's next-generation submarine fleet, it said on Monday. "ThyssenKrupp Marine Systems... is committed to take part in the competitive evaluation process for the design and construction of Australia's future submarines," the German industrial group said in a statement. "We welcome the federal government's announcement of a competitive evaluation process to select Australia's future submarine," it said. Reporting by Georgina Prodhan

30 Jan 2015

ThyssenKrupp: Submarine Unit Not For Sale

German industrial group ThyssenKrupp is not in talks to sell its submarine unit nor is it in talks to sell its stainless steel unit VDM, its chief executive said on Friday. "At the moment, there are no talks whatsoever about selling the submarine business," Heinrich Hiesinger said in answer to a question at the annual shareholders' meeting. ThyssenKrupp is currently fighting for its submarine unit to be allowed to take part in a multi-billion-dollar submarine tender in Australia. (Reporting by Georgina Prodhan; Editing by Maria Sheahan)

22 Aug 2014

Airbus May Sell Stake in Submarine Supplier

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.

22 Oct 2004

Change in Shareholding at Lisnave

There has been change in the shareholding at Portugal’s Lisnave following discussions between Germany’s German Industrial Group (GIG) and Portugal’s Estudos e Projectos Navais SA (Navivessel). The original agreement between these two companies included the possibility, if certain conditions and events were met, that GIG would acquire an additional stake of 40% of Lisnave’s share capital, thus obtaining control of the company. However, it has been decided that GIG would not increase its existing share capital and that Navivessel would acquire the 20% share capital acquired by GIG during 2002. The strategic partnership between GIG and Lisnave…