The Cologne-based engine manufacturer Deutz has emerged as another interested party in ThyssenKrupp’s shipyard division.
Deutz is one of the companies that is said to have submitted a non-binding offer for the Kiel-based marine division TKMS at the end of last year. This was reported by the Handelsblatt newspaper, citing industry circles. It was previously known that Rheinmetall and Lürssen’s NVL armaments division were also interested.
The Essen-based ThyssenKrupp Group has not considered naval shipbuilding to be part of its core business for some time now and has been trying to sell this part of its business for almost 20 years. However, the US investor Carlyle recently broke off exploratory talks.
German government seeks national solution for TKMS
With its expertise in the construction of submarines and surface naval vessels, TKMS is a key company in the German defence industry. The German government had intervened against a takeover by a US financial investor. A national solution with the participation of the state as a minority shareholder is preferred in order to be able to order ships for the German and European navies.
Deutz withdrew as a manufacturer from the marine sector years ago, but continues to produce combustion engines and hydrogen drives. By joining TKMS, the company would establish a new business segment and become one of the largest defence companies in Germany.
Official confirmations are still pending, and no further details have yet been disclosed. According to earlier statements, Group CEO Miguel López favours an IPO. This plan will continue to be pursued regardless of the expressions of interest, a spokesperson told Handelsblatt. However, this is now seen as an unlikely option, as many customers may have little interest in confidential information becoming public, it is said.
