*Source: DTN News / Navy Int'l Media
(NSI News Source Info) BERLIN, Germany - December 14, 2009
: The German government is pushing to prevent foreign investors buying a majority stake in submarine maker Howaldtswerke-Deutsche Werft (HDW), the Spiegel weekly reported on Sunday.
: The German government is pushing to prevent foreign investors buying a majority stake in submarine maker Howaldtswerke-Deutsche Werft (HDW), the Spiegel weekly reported on Sunday. Representatives from the German economy ministry were in talks with two German companies that have expressed an interest in HDW, which is currently owned by steelmaker ThyssenKrupp, Spiegel said, without naming its sources.
Also involved in the talks is Abu Dhabi MAR, which owns interests in other European shipyards and which is eyeing a minority stake in HDW, Spiegel said.
HDW specalises in submarines powered by fuel cells and has supplied navies around the world, including Israel's. Because of the firm's sensitive area of business, a sale of the company would require government approval.
Thomas Kossendey, state secretary in the defence ministry, told an industry conference in September that Berlin wanted to ensure that the design and construction of military vessels "stayed in German hands."
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