The German group vanishes the passage of the activities in the civil field of Blohm + Voss from ThyssenKrupp to Abu Dhabi MAR. in looks for of other purchasers



The sale of the activities in the civil field of the navalmeccanica society German Blohm + Voss of the group ThyssenKrupp Marine Systems (TKMS) to Middle Eastern Abu Dhabi vanishes SEA (ADM). Moreover it jumps also the previewed constitution of joint venture between the ThyssenKrupp group and the ADM with the objective to sell military ships of surface in Middle East and the Africa North. It remains instead in vigor an agreement between ThyssenKrupp Marine Systems and ADM in order to sell to the Middle Eastern group the civil activities of the ship yard KDW-Gaarden di Kiel, that it produces portacontainer and mega-yacht mainly.

The breach of part of the agreements with Abu Dhabi SEA is announced today by the German group ThyssenKrupp that has announced to have completed in wide leaves the restructure of the branch ThyssenKrupp Marine Systems and has confirmed the order of the value of 2,0 billion euros for the construction of six U-214 submarines for Marina Militare of Turkey, for which is received the payment of the advance payment. Such order - it has emphasized ThyssenKrupp - will assure job for next the ten years to the ship yard Howaldtswerke-Deutsche Werft (HDW) of Kiel, that it takes part of the German group, and to many subcontractors in Germany and Turkey.

ThyssenKrupp has evidenced also the positive contribution to the restructure brought from the solution agreed last October for the navalmeccanico group Greek Hellenic Shipyards, that it has carried Privinvest Shipbuilding, main shareholder of Abu Dhabi SEA, to the acquisition of 75.1% of the capital of the Greek company in the hands of ThyssenKrupp Marine Systems ( on 1° October 2010). The German group has remembered of being itself insured the acceptance of the first submarine U-214 for Marina Militare Greca and the payment of the debits, while the agreement includes an option for the order of the others two submarines for Hellenic Shipyards and HDW. ThyssenKrupp has emphasized to confide that the Greek authorities maintain to their engagements transforming this option in order.

The ThyssenKrupp group has made to meet own navalmeccaniche activities with brand MEKO, relative to the military ships of surface, in the division Blohm + Voss Naval GmbH that is constituted this year and that it has about 500 dependent and centers to Amburgo and Emden. The German group has evidenced that, having in program the construction of four ships in the within of the program F 125 of Marina Militare of Germany, the filial new has a solid base of activity.

Sul forehead of the navalmeccaniche activities in the civil field, instead, the restructure was mainly based on the cession of the relative activities of the branches Blohm + Voss and HDW to Abu Dhabi SEA in combination with the constitution of joint venture between the Middle Eastern group and Blohm + Voss Naval in the section of the military ships of surface. The cession, agreed last year, was authorized by the EU commission ( on 15 April and 31 August 2010). "After two years of talks and friendly negotiations - it has explained the German group in a note - ThyssenKrupp Maine Systems and Abu Dhabi SEA have agreed to place term to their efforts in order to constitute previewed joint venture relative to the shipbuilding activities in the military sector and civil of Blohm + Voss to Amburgo. Both the parts consider that the commercial device drivers for the transaction have been weakened to the extent that the opportunities identified previously are not more actionable commercially".

"The range of the transaction originally previewed between the two parts - it has specified the German group - will be time reported to the civil activities of HDW-Gaarden to Kiel exclusively. The relative ones contracted are completed with the approval of the supervisory bodies and now it must be only obtained the formal approval of the competent organs".

"For the civil activities of Blohm + Voss - it has continued ThyssenKrupp - we are working without delay to solutions that have the objective to transfer in the medium term these societies to new owners in a position to placing greater strategic attention to the activity of these companies regarding how much it can make ThyssenKrupp".

The German group has confirmed at last that, "online with the program of deliberated strategic development on 13 May, in future ThyssenKrupp Marine Systems will concentrate own activity on military the shipbuilding".