"If defense capabilities are to be established more quickly, we need standardization, industrial consolidation – and speed," said CEO Oliver Burkhard in the speech for the annual general meeting on February 27, which was published on Monday. "Money alone does not build ships," he added. What is crucial, he said, is how quickly industry and clients can become operational together. "We are ready to take responsibility here as well and actively participate in consolidation efforts in Europe and Germany."
Thyssenkrupp spun off its defense business, Thyssenkrupp Marine Systems, last year and listed it on the stock exchange. The group still holds a majority stake in the new company TKMS. After years of stagnation, the industry is now on the move. TKMS has made a non-binding takeover offer to its smaller rival, German Naval Yards Kiel (GNYK). Düsseldorf-based arms manufacturer Rheinmetall has acquired the defense division of the Bremen-based Lürssen shipyard. According to insiders, TKMS chief Burkhard has previously reached out to European providers as well.
(Report by Tom Käckenhoff. Edited by Olaf Brenner. For inquiries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
