Blohm & Voss Shipyards Update

Seeking to clarify the situation reported earlier with regard to situation about the ThyssenKrupp Marine Systems Group Michael Brasse Senior Communication Manager has told me that the restructuring concerns the facilities in Emden (TKMS Blohm + Voss Nordssewerke) and Kiel (HDW).

He said, “Blohm + Voss Shipyards, as part of ThyssenKrupp Marine Systems in Hamburg, will adhere to its strategy as builder and designer of worlds leading yachts in the premium segment over 90 m in length and not only concentrate on naval vessels and submarines.

The international market for shipbuilding activities is dominated by over-capacity and finds itself in a consolidation phase. In recent months in Germany and internationally a number of shipyards, including some with a long tradition in the industry, have become insolvent or have only been able to continue operating with state support.

Against this background, ThyssenKrupp Marine Systems – like its competitors – conducts discussions in both the national and the international context on ways of dealing with the structural and cyclical crisis which has affected shipbuilding particularly badly.”

ThyssenKrupp Marine Systems will not comment further on the subject and declines to respond to speculation and rumour