ThyssenKrupp and One Equity Partners signed a declaration of intent to merge ThyssenKrupp Werften and Howaldtswerke-Deutsche Werft (HDW) to form a new group under the management of ThyssenKrupp Werften. The group will operate under a new name and will include Blohm+Voss, nordseewerke, Howaldtswerke-Deutsche Werft, Kockums AB (Sweden) and Hellenic Shipyards (Greece). The new shipyard group will represent a sales volume approximately 2.2 billion euro and will employ close to 9,300 staff.

The shipyards involved are technology leaders in the construction of conventional submarines and modern surface naval vessels. The merger will create a systems house with strong positions in naval shipbuilding. The shipyards have already worked together successfully on projects in the past. In addition, the companies will also remain active in the merchant sector. The integration plans envisage the retention of the three important German locations in Kiel, Emden and Hamburg. The concentration of development, sales and production activities is expected to yield major benefits.