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Company News, 2002-03-25, 01:00 AM

ThyssenKrupp Werften - HDW: Agreement reached on cooperation

New cooperation agreements regarding the production and sale of naval ships have been signed between ThyssenKrupp Werften GmbH (Blohm + Voss and Thyssen Nordseewerke) and Howaldtswerke - Deutsche Werft AG (HDW). A precondition for the entry into force of the agreements is a ThyssenKrupp shareholding in HDW. One Equity Partners had already offered ThyssenKrupp and Ferrostaal a 15% stake each. The approval of the competent competition authorities also has to be obtained.

These agreements form the basis for continuing the long-standing and proven cooperation between the two shipbuilding groups. They are also part of the implementation of the closer cooperation in the field of German naval shipbuilding agreed by ThyssenKrupp and Babcock Borsig with the German government.

Contact:

Alfred Wewers
ThyssenKrupp Technologies
Telefon +49 (0) 201 106-3264
Telefax +49 (0) 201 106-3265
E-Mail: wewers@tkt.thyssenkrupp.com

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