Rheinmetall has reached an agreement on key terms with the Lürssen Group for the acquisition of Naval Vessels Lürssen (NVL) and its subsidiaries for an undisclosed price.
These subsidiaries constitute the military division of the Bremen shipyard in Germany.
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NVL, an independent shipyard group, operates four facilities in Northern Germany. These facilities are Peene-Werft in Wolgast, Blohm+Voss and Norderwerft in Hamburg, and Neue Jadewerft in Wilhelmshaven.
In financial year 2024 (FY24), NVL reported sales close to €1bn ($1.18bn).
With approximately 2,100 employees globally, the company has constructed about 1,000 ships at its shipyards for over 50 navies and coastguards.
NVL operates in both military ship construction and the maintenance and repair sector. It offers fleet life cycle support, ensuring operational readiness for the German Navy and international naval forces.
Rheinmetall CEO Armin Papperger said: “With the newly agreed acquisition, we are taking a decisive step forward in consolidating the defence industry in Germany and Europe. Combined with Rheinmetall’s expertise, we are creating a vital German powerhouse for state-of-the-art vessels.
“The combined capabilities of Rheinmetall and NVL will generate mutual growth and thus strengthen our corporation’s position in the naval sphere. At the same time, we are making a substantial contribution to strengthening the naval defence capabilities of Germany and its Nato allies.”
Currently, Rheinmetall provides a selection of contemporary system components for naval use and is among the major suppliers of simulation solutions and naval protection systems.
NVL’s shipyards will enable Rheinmetall to leverage existing infrastructure, expertise, and equipment to bolster production by the latter’s Vehicle Systems unit. They will also create additional capacity for future vehicle-based projects.
This strategic use of resources will help Rheinmetall avoid unnecessary infrastructure spending or significant modifications to other production facilities.
The transaction is subject to pending regulatory approvals from antitrust authorities and is expected to close in early 2026.
Last month, NVL partnered with the UK’s Kraken Technology Group to expedite the advancement and production of autonomous surface vessels through a joint venture.
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