Engine manufacturer Deutz is interested in Thyssenkrupp's submarine division

Acquisition Engine manufacturer Deutz is interested in Thyssenkrupp's submarine division

2025-01-17 Source: dpa 1 min Reading Time

According to a press report, engine manufacturer Deutz is interested in acquiring Thyssenkrupp's shipyard subsidiary. This would instantly make Deutz one of the largest defense companies in Germany.

Thyssenkrupp no longer counts Thyssenkrupp Marine Systems (TKMS) as part of its core business and has been looking for a buyer for years.(Image: thyssenkrupp AG) — Thyssenkrupp no longer counts Thyssenkrupp Marine Systems (TKMS) as part of its core business and has been looking for a buyer for years.
(Image: thyssenkrupp AG)

The Cologne-based company is among those that submitted a non-binding offer for Thyssenkrupp Marine Systems (TKMS) at the end of last year, reported the Handelsblatt on Thursday, citing industry circles. Deutz would thereby establish a new business field and become one of the largest defense companies in Germany overnight, it further stated.

A spokesperson for Deutz declined to comment on the information when asked by dpa-AFX. Thyssenkrupp confirmed to the newspaper that several companies had expressed interest in a possible partnership with TKMS. Deutz CEO Sebastian Schulte is familiar with TKMS: before moving to Cologne, he was CFO of the shipyard. The Deutz share, listed on the SDax, recently rose by about one percent.

Thyssenkrupp no longer considers Thyssenkrupp Marine Systems (TKMS) as part of its core business and has been looking for a buyer for years. TKMS builds conventional submarines. According to Handelsblatt (German newspaper), in addition to Deutz, the Lürssen shipyard, the defense company Rheinmetall, and the federal government have expressed interest in an acquisition or participation.

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