The shipyard group TKMS has withdrawn its interest in acquiring the German Naval Yards in Kiel. According to CEO Oliver Burkhard, the acquisition of German Naval Yards Kiel “would have been a nice option, but not a necessity,” a stance the company maintains.
As an agreement on the economic conditions could not be reached, the bidding process has now concluded. Currently, Rheinmetall is the only bidder vying to purchase the naval shipyard.
German Naval Yards is owned by the French group CMN Naval, but it shares an area in Kiel with TKMS. The two shipyards were also long linked. Burkhard further explained that while the possibility of optimizing the shared space was carefully reviewed, after examining the company’s financials and considering the current parameters and conditions, he sees no immediate need for the acquisition.
The CEO clarified that this decision does not hinder the development of the company’s publicly traded status. Looking forward, Burkhard stated that “with Kiel and Wismar, we can reliably and on schedule execute our existing and future order volumes,” referencing TKMS’s current operating locations. He concluded by saying that TKMS will now pursue other options in Kiel to increase logistical flexibility and develop solutions that create maximum value for TKMS and its shareholders.
