The industrial group Thyssenkrupp has officially spun off its marine division, Thyssenkrupp Marine Systems (TKMS), and will list it on the stock exchange.
The group will retain a 51% majority stake, while the remaining shares will be distributed proportionally to existing Thyssenkrupp shareholders. According to TKMS CEO Miguel Lopez, the move aims to increase agility and provide direct access to capital markets, enabling the company to finance technology investments and expand into new markets using its own resources.
At the extraordinary general meeting, 99.96% of shareholders voted in favor of the spin-off. Thyssenkrupp expects TKMS to go public as early as October.
“The spin-off creates the necessary entrepreneurial freedom for TKMS to further develop technological excellence,” emphasized Siegfried Russwurm, Chairman of the Supervisory Board.
Realignment after armaments boom
The move is part of Thyssenkrupp’s broader strategy to transform into a focused holding structure with independently managed subsidiaries. A surge in global defense spending has boosted TKMS’s order book, with recent submarine contracts from Norway and Singapore. The company is also advancing its transformation into a strategically managed holding.
While the German metalworkers’ union IG Metall supports the spin-off, it is calling for a government stake in TKMS to ensure fair competition with other European shipbuilders that enjoy state backing. At present, there are no government ownership plans, although a right of first refusal exists.
TKMS employs around 8,300 people, and has an order backlog exceeding €18 billion, including several submarine projects for European and international navies as well as the construction of the research vessel “Polarstern II“.
According to the company, the integration of central technological expertise, including through the acquisition of Atlas Elektronik, and process optimization have improved its operating performance.
