Cologne - The German government is facilitating talks between major naval shipbuilders in an effort to set up a national conglomerate rivaling industry champions like Naval Group in France and Fincantieri in Italy, according to a local media report.
Negotiations to that effect have been ongoing behind closed doors since the beginning of 2020 between ThyssenKrupp Marine Systems, German Naval Yards Kiel, and Lürssen, broadcaster NDR reported Thursday. Top executives from the companies confirmed the developments on Twitter, though without elaborating on the status of the negotiations.
News of the consolidation plan comes in the wake of German Naval Yards Kiel and TKMS losing a multibillion-dollar contract for new Germany Navy frigate-type ship, dubbed MKS 180.(READ MORE)