Thyssenkrupp to Take U-Boat Division Public in 2025

The industrial giant plans to retain majority ownership while exploring strategic partnerships and government involvement.

Thyssenkrupp Marine Systems (TKMS), a leading non-nuclear submarine producer, is set to go public by the end of 2025, according to CEO Miguel López.
The company will distribute shares to existing Thyssenkrupp shareholders while maintaining at least 51% ownership of the division.
TKMS has secured long-term orders, including a €4.7 billion contract for German Navy submarines, with production capacity booked until the 2040s.
Discussions with the German government and KfW Bank are ongoing about potential state involvement, citing the strategic importance of TKMS to national security.
The move aims to raise capital for significant investments in facilities, including its Kiel and Wismar shipyards, and to support European defense sector collaboration.