ThyssenKrupp: share loses job loss significantly – SPIEGEL ONLINE

After the defeat in the battle for a multibillion-dollar defense contract in Australia, the share of the ThyssenKrupp Group has dropped considerably. Meanwhile, the paper lost more than five percent of its value. At noon, the share still stood at around two percent in the red.

Federal Minister Sigmar Gabriel (SPD) declared that the failure of the Thyssen Krupp group was “regrettable”. The reasons he did not know.

The Essen-based group, meanwhile tried the debacle small talk. ThyssenKrupp Marine Systems is well utilized in the submarine area and have a “solid order backlog,” meaning a good planning for the coming years there.

An exuberant atmosphere contrast, in France: The French government responded enthusiastically to the billion-dollar contract for the state-owned DCNS. French Prime Minister Manuel Valls spoke of a “wonderful success”. The shares of the major DCNS shareholder Thales rose temporarily by up to 3.9 percent to a new record high. The Armor group holds 35 percent of DCNS.

DCNS wins contract in value of around 34 billion euros

DCNS had the contract for the construction of twelve receive submarines of the Australian Navy. The contract value could reach, including decades of service to the equivalent of approximately 34 billion euros. In January Insider ThyssenKrupp had attested dwindling opportunities. As a reason they called technical concerns. ThyssenKrupp had tried to stay in the race, and most recently advertised to build the boats in Australia – important for thousands of jobs in the shipyards of the country. But the effort was ultimately irrelevant.

The Australians want to modernize their fleet with submarines in size from 4,000 tons. The French state-owned company offers a diesel-electric version of its 5000-ton submarine Barracuda. The Australia boss of DCNS, Sean Costello had said that experience with large submarines were important for the project in Australia. A Japanese consortium led by Mitsubishi Heavy Industries and Kawasaki Heavy Industries had reportedly recently retired as the third bidder. It was originally considered favorites.

ThyssenKrupp is one of the largest submarine producers in the world and competes here with defense contractors such as the British BAE Systems and General Dynamics are represented from the United States. The Essen-based group had referred in his application to being in business for decades and have built for some 20 States submarines, including Israel, Italy, Korea and Brazil. The current submarines with 2,200 tons could be increased to 4000 tonnes, the competent Executive Vice President Hans Christoph Atzpodien had said.

The boats are to be produced mainly in Australia, including the leading Australian Naval Shipyard, the state ASC (formerly Australian Submarine Corporation). They built the six submarines of the Collins-class submarine, which were put into service between 1994 and 2003 and are now to be replaced. The production of the new submarines will begin in a few years, the first submarine to be around 2030 passed.

 
 
 

DCNS / REUTERS

DCNS design for the Royal Australian Navy