'Money alone does not build ships,' TKMS CEO says on rival Rheinmetall bid for GNYK

TKMS AG & Co KgaA

11/05/2026 09:20

FRANKFURT, May 11 (Reuters) - German warship maker TKMS TKMS.DE has taken note of a rival bid for the German Naval Yards (GNYK) shipyard from Rheinmetall RHMG.DE, its CEO said, adding that while the ammunition maker likely had more financial firepower it was not the only decisive factor.

"Money alone does not build ships," Oliver Burkhard told reporters after presenting second-quarter results, adding that expertise was equally important and something where TKMS had the upper hand versus rivals.

 (Reporting by Christoph Steitz; Editing by Linda Pasquini)

 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))