Company News Feb 1, 2012 8:30 AM
Closing completed: ThyssenKrupp Marine Systems sells civil shipbuilding operation to Star Capital Partners
On May 13, 2011, ThyssenKrupp AG decided on an integrated strategic development program to move the Group forward competitively and sustainably. It encompasses portfolio optimization, change management, and performance enhancement. In connection with the portfolio optimization, the Group will be divesting businesses for which there are stronger alternative strategic options.
After the signing of the agreement with Star Capital Partners on December 11, 2011 and the approval of the supervisory bodies and competition authorities and approval under Germany’s Foreign Trade Law (AWG), the closing of the transaction took place on January 31, 2012. The companies Blohm + Voss Shipyards, Blohm + Voss Repair (including Blohm + Voss Oil Tools) and Blohm + Voss Industries as well as their subsidiaries and in total circa 1,500 employees have therefore now been transferred to the British financial investor.
Star Capital Partners will continue the operations at all sites. Furthermore, the business group will continue to be run by the current management team headed by CEO Dr.-Ing. Herbert Aly.
“The sale is an important step in further focusing the activities of ThyssenKrupp Marine Systems,” says Dr. Hans Christoph Atzpodien, CEO of ThyssenKrupp Marine Systems AG, “the restructuring of the shipyards is now for the most part completed.”
ThyssenKrupp Marine Systems with now approx. 3,600 employees will concentrate on military surface vessel and submarine construction in the future.