TKMS ups sub building capacity with MV Werften takeover

German shipbuilding company thyssenkrupp Marine Systems (tkMS) is to take over the shipyard location of MV Werften in Wismar to ramp up its shipbuilding capacity and meet the future demand.

The contract marks the end of an open investment process for the Wismar shipyard lasting several months. 

“We come to Wismar to give not only Marine Systems, but also the location and the people here, a real perspective. Shipbuilding is where we come from and shipbuilding is where we want to go. And we will do this together with the workforce – and with as many as we can! We are convinced that together we can be successful and that this partnership is good for everyone,” said TKMS CEO Oliver Burkhard.

“The new owner, thyssenkrupp Marine Systems, has identified encouraging prospects for the shipyard site. There is an opportunity with thyssenkrupp Marine Systems to preserve as many jobs as possible in the maritime industry,” Mecklenburg-Western Pomerania’s Minister of Economics Reinhard Meyer added.

The company plans to produce submarines in Wismar during the course of 2024. The main impetus for this is an order for more submarines from the German government and the resulting investments in the upgrading of the shipyard.

The extent of such a commitment depends on the scope of the contract award. The company noted that, if production ramps up in the course of 2024, some 800 new employees could be hired.

Moreover, if additional orders are received in the surface sector, this number could even increase to over 1,500 employees at the Wismar site.

“I am delighted that with thyssenkrupp Marine Systems we have found a new owner who will uphold shipbuilding in Mecklenburg-Western Pomerania over the long term and even expand it wherever feasible. However, I am also aware that the road to a fresh start will be long for the employees of the shipyard. That is why I shall continue to do everything I can to shape the transition and to secure employment for as many employees as possible,” the insolvency administrator of MV Werften Christoph Morgen concluded.

The parties agreed not to disclose the purchase price. 

To remind, TKMS signed a deal with Israel’s Ministry of Defense to build three new submarines for the Israeli Navy in January this year.

The German firm is also building six Type 212CD submarines for Germany and Norway.