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France's contractor DCNS wants partnership with Thyssenkrupp

Staff writer |
France's state-controlled naval contractor DCNS is proposing an alliance with industrial group Thyssenkrupp, its strategy chief told a German newspaper.

An alliance would help to the companies to cope with pressures from low steel prices and increasing competition in the defense business in Europe.

Last month, France beat Japan and Germany in a $40 billion deal to build a fleet of 12 submarines for Australia, one of the world's most lucrative defense contracts.

"We are ready for talks as soon as the German side has gotten over its loss," DCNS head of strategy, Andreas Loewenstein, told German daily Sueddeutsche Zeitung.

Loewenstein told Sueddeutsche that the Germans would be guaranteed a strategic position in an alliance with Thyssenkrupp. DCNS and Thyssenkrupp would have a strong product portfolio, he said, but did not outline the details of his proposal.

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