The plans were already leaked two weeks ago, but now it’s official: the Düsseldorf-based armaments group Rheinmetall has reached an agreement with the shipbuilding group Lürssen on the purchase of the naval shipbuilding division NVL.
An agreement has been reached on “the main terms of an acquisition of Naval Vessels Lürssen, the military division of the long-established shipyard group headquartered in Bremen, Rheinmetall announced in an ad hoc release. The deal also has implications on vehicle construction.
The Group thus confirmed what had already been reported by HANSA at the end of August. The parties now intend to formally conclude the transaction “in the short term”, according to the statement. Subject to approval by the relevant antitrust authorities, the takeover is expected to be completed at the beginning of 2026. The purchase price is not known and the parties have agreed not to disclose it.
“With this significant strategic acquisition, Rheinmetall is expanding its portfolio to include naval shipbuilding and strengthening its position as a leading supplier of defense technology in Germany and Europe,” write the Düsseldorf-based company, which has also shown interest in TKMS, the naval shipbuilding division of the Thyssenkrupp Group, in the past.
The transaction involves NVL shipyards in Hamburg, Wilhelmshaven and Wolgast, i.e. Blohm+Voss, Norderwerft, Neue Jadewerft and Peene-Werft. The Lürssen Group intends to focus more on yacht building.
For decades, Rheinmetall has made a name for itself worldwide as a supplier, particularly in the field of military technology, but has also been a “proven partner of the navies of numerous countries” in the maritime sector for many years, the statement continues. Rheinmetall already offers “a selected range of modern system components for maritime applications and is a leading global supplier of simulation solutions and maritime protection systems in particular”.
The current conflict situation shows, according to Rheinmetall executives, that military assertiveness is also becoming increasingly important in the maritime sector. The aim is to meet the massively increasing requirements of the naval forces and the rising procurement budgets with high-performance system solutions that have a state-of-the-art digital infrastructure and cover the entire spectrum – from the platform and electronics to the sensors and effectors.
NVL is an important partner to the navy and competes for orders in Germany primarily with German Naval Yards and TKMS in Kiel. The division employs 2,100 people worldwide and generated sales of around €1 billion in the 2024 financial year. According to the company, around 1,000 ships have been built since its beginnings around 150 years ago and delivered to over fifty different navies and coast guards. Previously known as Lürssen Defence, NVL was separated from the yacht division in 2021 and continued as an independent company within the family-run Lürssen Group. “A decisive success factor” for Rheinmetall is that the Group already has “excellent market access” as a supplier in the global naval business, has a “presence in international markets” and “enjoys the corresponding trust of its customers”.
Another advantage for Rheinmetall results from the expansion of production capacities and the expansion of the Group’s industrial base in northern Germany. In particular, synergy effects are expected with the vehicle production of Rheinmetall’s Vehicle Systems division – which operates sites in Kiel and Flensburg, among others – on the basis of shared material and technology expertise. NVL’s shipyards therefore offer the opportunity to use the existing heavy infrastructure, the expertise of the employees and the equipment options to strengthen the production of Vehicle Systems and to create capacity reserves in the vehicle sector for the future. This will enable Rheinmetall to avoid excessive infrastructure investments or extensive conversions of other production facilities.
