History
The corporation opened a branch office in Karachi, Pakistan on 25 July 2007. By January 2009, it had become one of the biggest private shipbuilding companies in Pakistan.
In 2017 the Israeli government and TKMS signed a deal for three Dakar-class submarines. Allegations of corruption surrounding the deal have led to the formation of an Israeli governmental committee of inquiry and subsequent prosecution for corruption.[2]
In 2021, TKMS received the biggest order in its history, worth €5.5 billion for six identical Type 212CD submarines (in partnership with Kongsberg Gruppen) for the German and Norwegian navies.[3][4] In January 2021, ThyssenKrupp confirmed the acquisition of the Oceana shipyard in Itajaí, Brazil, becoming the company's first shipyard in Latin America, with the objective of building the new Brazilian Tamandaré-class frigates.[5]
In 2023, TKMS signed a memorandum of understanding with India's Mazagon Dock Shipbuilders, with the value of the agreement expected to be about 7 billion euros.[6][7]
Also in 2023, the German government signalled that it was prepared to back a sale of TKMS by taking a supporting minority stake.[4] Since 2024, ThyssenKrupp has been running a dual-track process for TKMS, which could result in either a sale or spin-off of the division. In June 2024, private equity firm Carlyle and German development bank KfW entered into negotiations to jointly acquire a majority stake in TKMS.[8] By October 2024, Carlyle abandoned the negotiations.[9]
In 2024, TKMS and German peer NVL formed a joint venture to primarily build F127 frigates.[10]
In July 2025, the German government reached a preliminary agreement with ThyssenKrupp on getting a right of approval if a stake of 25% or more were to be sold in TKMS following a spin-off; in addition, the government would have a pre-emptive right if ThyssenKrupp were to sell a stake of 5% or more to a third party.[11]
In August 2025, TKMS lost out against Mitsubishi Heavy Industries on a landmark $6.5 billion deal to supply the Royal Australian Navy with new frigates.[12] That same month, it became one of the two finalists, along with Hanwha Ocean, under consideration for a contract to deliver up to twelve submarines to the Royal Canadian Navy.[13]
In January 2026, TKMS submitted a non-binding bid for smaller competitor German Naval Yards (GNYK).[14]
