Shipbuilding
Rheinmetall Bids for Second German Naval Shipbuilder
Rheinmetall, an arms and systems manufacturer, made a non-binding offer to acquire German Naval Yards in Kiel, Germany, as part of its expansion strategy in shipbuilding. The company closed the acquisition of Lurssen's naval shipbuilding division (NVL) in February, generating €77 million in sales in its first month. Rheinmetall competes against TKMS for the acquisition and is also bidding for Romania's Mangalia shipyard with MSC Mediterranean Shipping.