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Company News, Capital market-relevant press releases, 2002-12-17, 01:00 AM

New Basis for Cooperation between Shipyards

Blohm + Voss GmbH and Nordseewerke GmbH, subsidiaries of ThyssenKrupp Technologies, concluded two agreements on December 17 with Howaldtswerke-Deutsche Werft AG (HDW) regarding the worldwide cooperation in naval shipbuilding of surface and submarine vessels. These agreements will put the project-based cooperation of many years between Blohm + Voss and Nordseewerke on the one hand and HDW on the other hand on a different basis. The contracts come into force as soon as they have been approved by anti-trust authorities.

Contrary to the procedure agreed on in spring of 2002 the coming into force of the contracts does not depend on the purchase of the 15% share of HDW. The partners have agreed to cooperate independent of this. In coordination with the owner of HDW, One Equity Partners (OEP), ThyssenKrupp Technologies will explore the possibility of a participation in HDW in the months to come.


Alfred Wewers
ThyssenKrupp Technologies AG
Phone: + 49 (201) 106 532 64
Fax: + 49 (201) 106 532 65

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