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Monday, April 20, 2015

Shifting Tides Stand to Lift Thyssen’s Shipbuilding Unit

FGS Nordrhein-WestfalenThe German company that armed generations of German military leaders, including Kaiser Wilhelm and Hitler, is adapting for the 21st century.

The shipbuilding arm of steel giant ThyssenKrupp AG on Thursday christened the second of four cutting-edge warships that it is building for the German navy for a total of roughly €2 billion ($2.2 billion).

The event was celebrated at the Blohm & Voss shipyard here with patriotic fanfare that included a marching band, naval officers, and a host of political and business leaders. It represented a rare bright spot for the country’s beleaguered defense industry, which has been squeezed by stricter government controls over arms exports and weaker demand in Europe.

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