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The
investment at Thyssenkrupp Marine Systems (TKMS) will be made by
2023, the group said, pointing to good order intake at the
moment. TKMS will also hire 500 new employees by the end of next
year, it said.
"Our ambition is to be Europe's most modern naval company. By
making major investments, we are preparing our operations for
the future," TKMS Chief Executive Rolf Wirtz said in a
statement.
"Our recent successes show that there is strong demand for our
products and services. We want to further strengthen this
position," he added.
The group said it was contracted by an African customer in
August to build four frigates.
Order intake at TKMS was down a fifth at 385 million euros in
the first nine months of the year, while sales were up a third
at 1.305 billion euros. The unit achieved break even on an
adjusted operating profit level following a 117 million euro
loss last year.
The investment comes days after the group said it would invest a
similar amount in a new hot-dip coating facility at its steel
division, Steel Europe.
As part of a restructuring, Thyssenkrupp is open to selling a
majority of TKMS, Germany's second-largest defense group after
Rheinmetall <RHMG.DE>, which has been mentioned as a potential
buyer, along with France's Naval Group.
(Reporting by Christoph Steitz; Editing by Mark Potter)
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