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Wednesday, October 16, 2013

Germans look to sink Swedish sub maker

Kockums A26A German industrial giant is waging a campaign of "internal warfare" against one of its own firms - Sweden's flagship submarine manufacturer Kockums - putting key defence deals at risk, sources have told The Local.

German industrial conglomerate ThyssenKrupp bought Kockums in 2005 to form part of what is known as ThyssenKrupp Marine Systems (TKMS), a firm which also owns German submarine maker HDW, a direct competitor of Kockums.

A source told The Local that the purchase was aimed at getting rid of Germany’s Swedish submarine rival and that TKMS was jeopardizing Swedish export deals for submarines with the Australian and Singaporean governments.

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