MAR Interested in German Submarine Maker

ABU DHABI — Abu Dhabi-based privately owned shipyard Abu Dhabi MAR wants to expand its partnership with Germany’s ThyssenKrupp, by taking a minority stake in its submarine unit Howaltdswerke-Deutsche Werft, 
or HDW.



ThyssenKrupp is currently reorganising its shipbuilding activities afteer a decline in new orders, particularly for container ships.

On October 15, the German company agreed with Abu Dhabi MAR on a long-term strategic cooperation to build naval ships and mega-yachts. The partnership involves forming Blohm+Voss Naval, a 50:50 joint venture that will make naval surface ships including frigates, corvettes and offshore patrol vessels.

“As part of the due diligence on Blohm+Voss, we had spoken also about a stake in HDW,” the Germany-based spokesman for Abu Dhabi MAR told Reuters. But he said the examination of the books of Blohm+Voss was a priority.

haseebhaider@khaleejtimes.com


More news from Business