TKMS and Navantia have signed a memorandum of understanding to explore strategic cooperation on naval projects across Europe and within NATO. The agreement envisages the potential production of TKMS vessels, specifically submarines, at Spanish shipyards operated by Navantia.
Recent geopolitical developments have significantly increased short term demand for modern naval products, the companies stated. This partnership intends to address bottlenecks in shipyard capacity and technological resources currently seen across Europe.
Both firms plan to explore how industrial cooperation can help implement projects "more efficiently and cost-effectively." Management level discussions will be initiated in compliance with competition and export control regulations, the companies noted.
Chief Executive Officer of TKMS Oliver Burkhard stated that manufacturing capacity is currently limited while security requirements for customers are growing. He said, "it is crucial that European industrial companies collaborate more closely."
Chairman of the Supervisory Board of TKMS Volkmar Dinstuhl explained that the memorandum enables the firms to leverage synergies between shipyard capacities.
Navantia Executive Chairman Ricardo Domínguez stated the collaboration will deliver capabilities to armed forces while, "leveraging the full potential of European defence investment".