ThyssenKrupp: No German-French naval shipbuilding merger in works

tklogoGermany's ThyssenKrupp today commented on recent press reports of a planned merger of German and French naval shipbuilding interests. The stories were based on a report in Financial Times Deutchsland on August 1 that had suggested an "EADS of the Sea" was in the works, referring to the European aerospace and defense alliance whose best known unit is Airbus.

Saying it was responding to "persistent speculation about the formation of a joint venture by ThyssenKrupp Marine Systems and the French shipyards group DCNS or a merger of the two companies," ThyssenKrupp said:

ThyssenKrupp Marine Systems is not planning a joint venture with the French shipyards group DCNS, nor are there any plans for a merger or other partnership or alliance with the French shipyards. No talks on this are currently being held by the companies and no talks are planned.

While there have been repeated attempts to form an alliance between the German and French shipyards in the past, ThyssenKrupp currently sees no prospects of a merger or closer alliance between the two shipyards groups; this applies both to the submarine area and to naval surface vessels (frigates/corvettes/supply vessels). Not least to prevent confusion among potential customers, ThyssenKrupp felt it necessary to issue this supplementary statement.

This does not affect the collaboration in the field of naval technology between Atlas Elektronik – a joint venture of ThyssenKrupp Marine Systems and EADS - and DCNS in relation to the development and delivery of torpedos.

August 4, 2011

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