Thyssenkrupp to spin off yards division

Thyssenkrupp to spin off yards division

Thyssenkrupp is to separate its shipbuilding segment from its industrials division with a view to selling its yards business.

The group’s marine unit will be spun off from its Industrial Solutions division and managed directly by Thyssenkrupp from October 1.

There are likely to be at least two suitors for the yards division, one from Germany as well as a French contender, according to Reuters.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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