ThyssenKrupp and Saab agree on sale of ThyssenKrupp Marine Systems AB
ThyssenKrupp Industrial Solutions AG, a company of ThyssenKrupp Group,
and Saab AB today entered into an agreement on the sale of Swedish shipyard
ThyssenKrupp Marine Systems AB (formerly Kockums) with facilities in
Malmö, Karlskrona and Muskö. The purchase price is SEK 340
million (around €37 million). The transaction is subject to the
approval of the board and supervisory bodies of the ThyssenKrupp Group
as well as the Swedish Competition Authority.
Kockums A26. A26 was the project of the next generation of submarines
developed by Kockums for the Swedish Navy.
In April 2014, the two companies signed a non-binding Memorandum of
Understanding on the acquisition of the Swedish shipyard, which has
generated substantial losses for years. ThyssenKrupp Industrial Solutions
has been pursuing the sale in line with the Swedish government’s
publicly stated preference for national naval shipbuilding programs.
ThyssenKrupp is focusing its naval shipbuilding activities in Kiel,
Hamburg and Emden. These activities are highly cash generative and contribute
reliably to the company’s earnings. With its proprietary air-independent
HDW fuel cell propulsion system, ThyssenKrupp Marine Systems is the
clear world market leader in the field of non-nuclear submarines.