IPO in the works: TKMS before the IPO: This is how much Thyssen's submarine jewel could be worth

Thyssenkrupp Marine Systems (TKMS) has landed one of the largest contracts in its history. The German Navy is modernizing six of its submarines at the Kiel shipyard. The total cost is €800 million.

Summarized for you

The multi-million euro service contract with the German government covers the modernization of six Type 212A submarines. The contract has a term of ten years and will further strengthen TKMS's order backlog. Prior to the contract signing, the order volume was approximately 18 billion euros.

TKMS is also enjoying success internationally: The defense company will build two more submarines for Singapore, further filling the company's record order book.

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Written by Julian Schick