ThyssenKrupp Marine Systems

ThyssenKrupp Marine Systems GmbH (often abbreviated TKMS) is a group and holding company of providers of naval vessels, surface ships and submarines. It was founded when large industrial conglomerate ThyssenKrupp acquired Howaldtswerke-Deutsche Werft on January 5, 2005.

thyssenkrupp Marine Systems GmbH

Company type	Private
Industry	Shipbuilding
Founded	January 5, 2005; 20 years ago (2005-01-05)
Headquarters	Kiel, Schleswig-Holstein , Germany
Area served	Worldwide
Key people	Oliver Burkhard (chairman and CEO)
Owner	ThyssenKrupp
Number of employees	6000
Parent	ThyssenKrupp Industrial Solutions
Subsidiaries	Howaldtswerke-Deutsche Werft Atlas Elektronik
Website	www.thyssenkrupp-marinesystems.com/en

Composition

The group consists of:

• Howaldtswerke-Deutsche Werft in Kiel, Germany
• Meyer Wismar in Wismar
• Atlas Elektronik in Bremen, Germany
• Hellenic Shipyards Co. in Skaramangas, Greece (25%) (until 2023)

As of August 30, 2006, the group represented a sales volume of around €2.2 billion and had a workforce of 8,400 people.

It is said that ThyssenKrupp wants to sell its Yards' Business in Emden, Kiel and Hamburg.^[1]

On the 12th of April 2023, ThyssenKrupp sold its stake on Hellenic Shipyards to George Prokopiou.^[2]

History

The corporation opened a branch office in Karachi, Pakistan on 25 July 2007. By January 2009, it had become one of the biggest private shipbuilding companies in Pakistan.

In 2017 the Israeli government and TKMS signed a deal for three Dakar-class submarines. Allegations of corruption surrounding the deal have led to the formation of an Israeli governmental committee of inquiry and subsequent prosecution for corruption.^[3]

In 2021, TKMS received the biggest order in its history, worth €5.5 billion for six identical Type 212CD submarines (in partnership with Kongsberg Gruppen) for the German and Norwegian navies.^[4][5]

In 2023, the German government signalled that it was prepared to back a sale of TKMS by taking a supporting minority stake.^[6] Since 2024, ThyssenKrupp has been running a dual-track process for TKMS, which could result in either a sale or spin-off of the division. In June 2024, private equity firm Carlyle and German development bank KfW entered into negotiations to jointly acquire a majority stake in TKMS.^[7] By October 2024, Carlyle abandoned the negotiations.^[8]