Kiel submarine shipyard plans merger with Atlas Elektronik

Shipbuilding - Kiel submarine shipyard plans merger with Atlas Elektronik

The Kiel shipyard Thyssenkrupp Marine Systems (TKMS) wants to focus its activities more strongly. This also includes the merger of TKMS and the Bremen-based Thyssenkrupp division for maritime electronics, Atlas, said shipyard boss Oliver Burkhard in an internal interview after a management conference, which was made available to the German Press Agency. One should not take advantage of the other. "We want to preserve the strength of the different cultures and create something even stronger and common."

The project should be approached with the necessary calm and professionalism, emphasized the company boss. This will require the entire team on board. "One thing is certain: the sooner we create clarity for our employees, customers and future owners, the better," said Burkhard. The first steps should be implemented by the end of September 2024.

"We are not a closed company," said Burkhard on the current situation. "We are fragmented and still have far too many frictional losses. We will put all units to the test and adopt the best of all worlds - without trying to please everyone and becoming arbitrary," said the manager. "Together, we will build a joint company that is perceived as a unit with all the technological expertise that is the benchmark in our industry."

At the parent company Thyssenkrupp 's annual press conference in November, Burkhard emphasized that the independence of TKMS was essential. He sees additional growth opportunities for the Kiel shipyard as a result of growing global demand and higher defense budgets.

TKMS is pursuing independence "because it will put us in a position to obtain the necessary resources for the appropriate and ambitious further development of Marine Systems". But the company should not wait until it is actually independent.

The TKMS strategy is based on focus, Burkhard said in the interview. "In future, we will only do things that are profitable and we will only be in markets where we are competitive."

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1. The German Press Agency reported that Oliver Burkhard, the shipyard boss of Thyssenkrupp Marine Systems (TKMS), discussed the planned merger of TKMS with Atlas Elektronik, a Thyssenkrupp division focused on maritime electronics, during an internal interview.
2. Burkhard emphasized that the merger, set to be approached with calm and professionalism, aims to preserve the strengths of both cultures and create a stronger, unified entity.
3. The Defense industry in Germany, with Thyssenkrupp's Kiel shipyard and Atlas Electronics at its core, seeks to build a joint company recognized for its technological prowess and dominance in the field.
4. At a press conference in November, Burkhard voiced the need for TKMS's independence to secure resources for growth, citing growing global demand and higher defense budgets as opportunities for expansion.
5. According to Burkhard, the TKMS strategy hinges on focus, with the company committing to pursuing only profitable ventures and maintaining a competitive edge in select markets.
6. Despite pursuing independence, Burkhard advocated for taking advantage of opportunities as they arise, emphasizing that the weakening of one segment of the company could impact the entire defense industry, including sectors like shipbuilding and weapon manufacturing.

Source: www.stern.de