European defense giant Rheinmetall has signalled interest in taking over German shipbuilder Naval Vessels Luerssen, industry sources told Reuters on Wednesday, as the Duesseldorf-based firm looks to expand into the naval business.According to
European defense giant Rheinmetall has signalled interest in taking over German shipbuilder Naval Vessels Luerssen, industry sources told Reuters on Wednesday, as the Duesseldorf-based firm looks to expand into the naval business.
According to the Bild newspaper, which first reported Rheinmetall's plans, the supervisory board intends to consider the purchase in the coming weeks.
According to Bild, the Luerssen family, who own the shipbuilder, plan to divest its military shipyards in Hamburg, Wilhelmshaven and Wolgast to focus on building megayachts.
The privately owned NVL is a leading naval ship manufacturer, alongside Thyssenkrupp's warship division TKMS, with annual sales of 1 billion euros ($1.17 billion), Bild reported.
A person familiar with the matter was cited by the newspaper as saying that any acquisition could still fall through as the Luerssen family would need to approve it.
When asked about the Bild report, Rheinmetall CEO Armin Papperger told reporters that the company was always interested in expanding its product portfolio, without giving further details. Papperger said earlier this month that Rheinmetall, which makes tanks and ammunition, was in talks with partners about investing in the naval sector.
A NVL spokesperson said on Thursday that the company does not comment publicly on speculation
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