A brand of Thyssenkrupp AG is pictured on the firm’s headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo
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BERLIN, May 14 (Reuters) – Germany’s second-largest defence group Thyssenkrupp Marine Systems (TKMS) (TKAG.DE) needs to play a number one function in consolidating the German and European shipyard industry, its new Chief Executive Officer informed 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 mentioned a merger, for instance, could possibly be shaped with smaller German rivals Luerssen and German Naval Yards (GNYK).
The firm has been build up extra capability for the reason that German authorities’s announcement of a 100 billion euro particular fund for the army after Russia’s invasion of Ukraine, Burkhard added.
“We are also actively looking for new production sites. There are a number of possibilities,” he mentioned, including that the corporate was keen on shopping for elements of cruise ship builder MV Werften, which filed for insolvency in January this yr.
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Reporting by Riham Alkousaa; Editing by Kirsten Donovan
Our Standards: The Thomson Reuters Trust Principles.
Thyssenkrupp warship unit eyes German shipyard industry consolidation, Welt am Sonntag reports & More Latest News Update
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