Rheinmetall eyes takeover of Lürssen’s naval shipyards
The Düsseldorf-based defense group Rheinmetall plans to enter naval shipbuilding and is negotiating the acquisition of Naval Vessels Lürssen (NVL).
Industry sources report that the Lürssen family aims to divest its Hamburg, Wilhelmshaven, and Wolgast shipyards, focusing instead on yacht construction. For Rheinmetall, long known for tanks and ammunition, the move would mark a major portfolio expansion.
CEO Armin Papperger hinted at such plans in July, saying, “We are always interested in expanding our product portfolio.” Rheinmetall’s Supervisory Board will discuss the project in the coming weeks. Analysts see the step as pivotal for consolidating German naval shipbuilding, where NVL, Thyssenkrupp Marine Systems (TKMS), and German Naval Yards currently compete. The German government has recently urged stronger cooperation among defense firms.
With €1 billion in annual revenue, NVL is a leading naval vessel producer. Its projects include the German Navy’s F126-class frigates, 424-class fleet service boats, and 707-class replenishment vessels. Internationally, it contributes to Australia’s Arafura-class patrol vessels, works with the UK’s Kraken Technology Group on unmanned platforms, and partners with TKMS on the planned F127 air-defense frigate.
The deal remains uncertain, requiring shareholder approval and competition clearance. IG Metall has not yet been involved, stating that consolidation could be positive but must include active government participation.
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