After formal closing: New shipyard group getting under way.

With the closing on January 5, 2005, the marriage between ThyssenKrupp Werften and HDW has been formally consummated.

This date also marks the official inception of ThyssenKrupp Marine Systems, the new group parent headquartered in Hamburg.

Essentially, ThyssenKrupp Marine Systems comprises the following subsidiaries:

Howaldtswerke-Deutsche Werft GmbH, Kiel

HDW-Nobiskrug GmbH, Rendsburg

Blohm + Voss GmbH und Blohm + Voss Repair GmbH, Hamburg

Nordseewerke GmbH, Emden
Kockums AB, Sweden
Hellenic Shipyards S.A., Greece.

ThyssenKrupp Marine Systems represents a sales volume of around Euro 2.2 billion and presently employs a workforce of 9,300.

Dr. Klaus Borgschulte chairs the new company as CEO. Ulrich Ziolkowski is its CFO, while Reinhard Kuhlmann heads Human Resources. Other Executive Board members are Walter Freitag, chairman of the Submarines division, and Gerhard Kempf, chairman of the Surface Vessels division.