A memorandum of understanding has been signed by ThyssenKrupp Industrial Solutions AG, regarding the sale of Swedish Shipyard ThyssenKrupp Marine Systems AB (former Kockums) with provisions in Malmö, Karlskrona and Muskö.

The company, which is a subsidiary of ThyssenKrupp AG, is at an early stage of its negotiations with Saab AB. Both parties agree that during the negotiation phase, the integrity and the operating ability of ThyssenKrupp Marine Systems AB have to be safeguarded. Any transaction would be subject to regulatory approval.

ThyssenKrupp Industrial Solutions is pursuing these talks in line with the publicly stated Swedish government’s preference for national naval shipbuilding programmes.

The firm offers a constructive solution, which would secure the industrial structures in Sweden and the high-skilled jobs of the roughly 900 employees at ThyssenKrupp Marine Systems AB.

At the same time, ThyssenKrupp aims at focusing its profitable naval shipbuilding activities in Kiel, Hamburg, and Emden. These activities have a high order backlog which secures workload and employment until 2020.