Kockums & HDW Merge
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Kockums & HDW Merge


Celsius, Babcock Borsig and Preussag have signed a contract concerning the formation of a European shipbuilding company as a result of a merger between Howaldtswerke-Deutsche Werft (HDW) and Kockums Naval Systems. In addition, an agreement has been reached between Celsius and HDW settling the acquisition of Celsius' 49-percent stake in Australian submarine builder - Australian Submarine Corporation. The agreements are subject to approval by the appropriate regulatory authorities. The merger of these two shipbuilding companies creates one of the world's strongest builder of submarines, a company with the most advanced technology and a commanding position in the conventional (non-nuclear) submarine sector. The company will also be a strong player in the naval surface vessel sector. Both companies have developed advanced systems and products in their respective business sectors, and the merger will lead to strengthened research and development resources. More information: Defence Systems Daily


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