ThyssenKrupp sells part of Nordseewerke

ThyssenKrupp Marine Systems recently gave the go-ahead for the partial sale of the civil shipbuilding operations of Nordseewerke to steel construction company SIAG Schaaf Industrie AG.

The deal foresees the creation of a wind power turbine production facility at ThyssenKrupp’s ship yard Nordseewerke in Emden. SIAG intends to turn part of the shipbuilding site into its sole production facility for tower construction and mechanical engineering for wind energy technology.

ThyssenKrupp, which is also active in the production of steel, automotive parts and elevators as well as in offering technology services, plans to focus its business at Nordseewerke on engineering and repair activities for naval shipbuilding, particularly on the building and servicing of naval submarines components.

ThyssenKrupp has previously announced its intention to scale down its civil shipbuilding operations in light of considerable global overcapacities and a massive decline in new orders as a result of the economic crisis. The sale of ThyssenKrupp Marine Systems’ Kiel-based container shipyard HDW-Gaarden to Heinrich Roenner Group was called off but the company would continue to look for partners for the HDW-Gaarden business.