Tag: North Rhine-Westphalia

Thyssenkrupp approves spin-off of naval unit TKMS

A general view of the logo of the engineering company Thyssenkrupp on December 22, 2022, in North Rhine-Westphalia, Duisburg | File Photo: Roland Weihrauch/dpa

Thyssenkrupp is to retain a majority stake of 51% in TKMS through a new holding company. The remaining 49% of TKMS shares are to be transferred to Thyssenkrupp shareholders in proportion to their shareholdings, making them direct shareholders of TKMS.

German arms firms see orders spike as wars rage

The Rheinmetall AG logo in front of the company's headquarters | File Photo: Thomas Banneyer/dpa

The Ukraine war and expanding global conflict showered a windfall on German arms companies like Rheinmetall and TKMS, with some startups like Helsing becoming the upstarts of the weapons industry, and other legacy companies like Heckler & Koch even experiencing a dramatic reversal of fortunes.