TKMS to restructure

Hamburg-based ThyssenKrupp Marine Systems (TKMS) has announced that it will restructure its business from April 1.

Following a meeting of the supervisory board today, it was decided that the naval shipbuilding and merchant shipbuilding sectors of Blohm + Voss are to be divided into two legally separate, autonomous companies.

From April 2008, the naval sectors of Blohm + Voss, Hamburg, and Nordseewerke, Emden, will be brought together as TKMS Blohm + Voss Nordseewerke. The company will be headquartered in Hamburg and Emden.

The merchant shipbuilding sector of Blohm + Voss will change its name to Blohm + Voss Shipyards, simultaneously taking over the company management of HDW-Gaarden, Kiel. Both companies will concentrate on the merchant shipbuilding business. Frigates designated for Blohm + Voss will still continue to be built in Hamburg.

As part of these structural changes, the merchant shipbuilding and repair sectors at the Hamburg site will be strengthened and expanded. The same will apply for the Emden site for naval surface vessels.

The business activities of the foreign shipyards of Kockums, Sweden and Hellenic Shipyards, Greece – both part of the TKMS Group – will be integrated into these new structures, specialising in submarine and naval surface vessel construction.