TKMS plans to build submarine components in Spain under EU shipyard consolidation drive
Oliver Burkhard, chief executive of Thyssenkrupp Marine Systems (TKMS), said the German shipbuilder is pursuing stronger consolidation of Europe’s naval shipyards. He urged that European shipyards move beyond cooperating on individual contracts toward a more institutionalised alliance, even proposing a “Seabus” concept comparable to an Airbus for the sea.
TKMS already has a strategic partnership with Spain’s state‑owned shipbuilder Navantia and is discussing the production of submarine parts in Spain for future orders, pending customer approval. The company expects to secure a Canadian submarine contract and anticipates further business with India, noting that the Indian finance ministry has approved a budget for new submarines. Burkhard expects signatures for six submarines by the end of the year, with an option for three more.
He also commented on TKMS’s share price, which stands at €80, well below its February peak, and observed that some shareholders appear more focused on short‑term returns than the company’s long‑term development.
Entities: Canada · India · Navantia · Oliver Burkhard · Thyssenkrupp Marine Systems (TKMS)
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 5 SOURCES] TKMS is discussing building submarine parts in Spain for future orders, subject to customer approval. (Burkhard)
- [● 5 SOURCES] Oliver Burkhard, CEO of TKMS, advocates stronger consolidation of the European shipyard industry. (Burkhard)
- [● 5 SOURCES] TKMS expects signatures for six submarines by the end of the year, with an option for three more. (Burkhard)
- [● 5 SOURCES] The Indian finance ministry has approved a budget for new submarines. (Burkhard)
- [● 5 SOURCES] TKMS expects to secure a submarine contract from Canada. (Burkhard)
- [● 5 SOURCES] TKMS has a strategic partnership with Spanish shipbuilder Navantia for submarine construction. (Burkhard)
- [● 5 SOURCES] TKMS’s share price is €80, below its February peak. (Burkhard)