Thyssenkrupp warship unit eyes German shipyard industry consolidation -Welt am Sonntag

Petro Welt Technologies AG

14/05/2022 11:38

BERLIN, May 14 (Reuters) - Germany's second-largest defence
group Thyssenkrupp Marine Systems (TKMS)  TKAG.DE  wants to play
a leading role in consolidating the German and European shipyard
industry, its new Chief Executive Officer told German newspaper
Welt am Sonntag.
    "If the road to a European giant is still too difficult, a
German champion could be formed first," Oliver Burkhard was
quoted by the newspaper as saying.
    Burkhard said a merger, for example, could be formed with
smaller German rivals Luerssen and German Naval Yards (GNYK).
    The company has been building up additional capacity since
the German government's announcement of a 100 billion euro
special fund for the military after Russia's invasion of
Ukraine, Burkhard added.
    "We are also actively looking for new production sites.
There are a number of possibilities," he said, adding that the
company was interested in buying parts of cruise ship builder MV
Werften, which filed for insolvency in January this year.
    

 (Reporting by Riham Alkousaa; Editing by Kirsten Donovan)
 ((Riham.Alkousaa@thomsonreuters.com;))