Abu Dhabi MAR Group and ThyssenKrupp agree to establish longterm strategic partnership
Abu Dhabi MAR Group, the international shipbuilding group based in Abu Dhabi, and ThyssenKrupp Marine Systems, part of ThyssenKrupp, have agreed on a close strategic partnership. Following the acquisition of Nobiskrug Shipyard in Rendsburg, Germany, the envisaged partnership is a further step for Abu Dhabi MAR Group towards creating a world leader in naval and mega-yacht building.
The strategic partnership involves the formation of a 50:50 joint venture, Blohm + Voss Naval, for the design and manufacturing of naval surface ships (frigates, corvettes and offshore patrol vessels).
It also involves Abu Dhabi MAR Group owning a majority stake of 80% in the mega yacht business and in each of the companies “Blohm + Voss Shipyards”, “Blohm + Voss Repair” and “Blohm + Voss Industries”.
H.E. Ahmad Darwish Al Mara, Chairman of Abu Dhabi MAR Group, said: “The strategic partnership with ThyssenKrupp presents a compelling opportunity for Abu Dhabi MAR Group to position the group as world leader in naval and megayacht building.”
Abu Dhabi MAR Group is a major shipbuilder in the heart of the Gulf Region providing its customers with innovations and creative solutions based on high engineering standards.
“The joint shipbuilding group will capitalize on our combined expertise and the commitment to deliver the highest technological standards for our future customers. We believe that together with the highly qualified and experienced employees of Blohm + Voss, we will be able to design and build excellent and competitive products for our sophisticated customers worldwide,” added Mr. Al Marar.
The transaction is subject to the approval of the supervisory bodies of both groups. For the naval side, the transaction is subject to disclosure requirements under the German Foreign Trade and Payments Act (AWG).
Abu Dhabi MAR Group
Abu Dhabi MAR Group, a holding company based in Abu Dhabi, is an international, fast growing shipbuilding group. The group has the capacity of building civilian ships up to 200 meters as well as military and commercial vessels. The group is jointly owned by Al Ain International Group (70%) and Privinvest (30%). Mr. Iskandar Safa is the Managing Director of Abu Dhabi MAR Group. Abu Dhabi MAR Group’s order book exceeds today 1 billion Euros. The shipbuilding group employs 2,000 people globally, of which 250 are designers and engineers.
ThyssenKrupp Marine Systems
ThyssenKrupp Marine Systems is a leading European systems house supplying submarines, naval surface ships and premium segment yachts to customers globally. The company’s outstanding shipbuilding competence includes repair, services and ships’ components.
ThyssenKrupp Marine Systems