Germany’s largest defence contractor Rheinmetall has entered the race to acquire a naval shipyard in Kiel.
"We have submitted a non-binding offer to purchase German Naval Yards," said chief executive Armin Papperger during an analyst conference call on Thursday.
He was referring to the Kiel-based company, which has hitherto been part of the French shipbuilding group CMN Naval. A due diligence process is now under way, after which a binding offer could be submitted.
Rheinmetall only recently become a shipbuilder at the end of February, when it took over the naval division of the Bremen-based shipyard group Lürssen.
Now the arms manufacturer is setting its sights on a shipyard. Its competitor TKMS is also interested in the site and has already submitted an offer.
Submarine builder TKMS and German Naval Yards share a shipyard site in Kiel. German Naval Yards employed around 400 people in August 2025.