ThyssenKrupp AG
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Head office: thyssenkrupp Allee 1, 45143 Essen, Germany. Tel.: +49-2018440
A German industrial and technology multinational conglomerate, active in the fields of Automotive Technology, Decarbon Technologies, Materials Services and Marine Systems.
The company’s marine systems division, ThyssenKrupp Marine Systems, has provided warship vessels and submarines to the Israeli Navy since the 1990s.
The company provided Israel with the “Sa’ar 6” warships.
Gaza 2023
On 14 October 2023, during Israel's attack on Gaza, the Israeli military carried out the first-ever operational attack by the Sa’ar 6 ships. The two ships, named Ahi Oz and Ahi Magen, carried out the attacks from the surface of the sea towards the besieged Gaza, in cooperation with the air forces and the ground forces. In December 2023, the Israeli military announced it had completed the operationalization of all four ships. For more see Who Profits’ report The Companies Supplying Weapons to Israel’s Attack on Gaza.
In May 2015, the IMOD contracted ThyssenKrupp to supply four new Sa’ar 6-class warship vessels corvettes for the Israeli Navy at an estimated cost of USD 480 million, of which one-third was funded by the German government. The contract included the construction of the platform including the hull and propulsion systems, engine and electricity. By July 2021, all four Sa'ar 6 corvettes - INS Magen, INS Oz, INS Independence and INS Victory - were transferred to the Israeli Navy.
The ships were designed to offer enhanced attack capabilities and to be equipped with a range of weaponry and combat systems, including anti-air and anti-ship missiles and machine guns. The vessels were built by ThyssenKrupp in a joint venture with German Naval Yards Kiel, based on advanced German battleships, and the outfitting of combat systems, sensors and other subsystems was carried out in Israel.
The Sa’ar ships are deployed in the maritime space and are also responsible for protecting Israel's gas rigs in the Mediterranean and are used to conduct patrol duties in shipping lanes and other strategic assets in the Mediterranean.
SK Group - Israel Weapon Industries’ subsidiary, Israel Shipyards Ltd., provides the maintenance and repair services for the Sa’ar 6-class corvettes and submarines.
Submarines
In January 2022, the company signed an agreement with the IMOD to build three advanced operational submarines for the Israeli Navy for €3 billion (USD 3.24 million). The submarines, an upgraded version of the existing Dolphin-class model that Israel already has, will form a new class called Dakar and will be delivered within nine years. Part of the cost will be financed by the German government under an agreement signed between the two countries in 2017. The agreement also calls for the construction of a simulator in Israel, as well as logistic support and the supply of spare parts.
The agreement includes a parallel contract, signed between the company and the Israeli Economy and Industry Ministry, for reciprocal procurement and industrial strategic cooperation. The agreement calls for Thyssenkrupp to make over €850 million (USD 916.8 million) purchases from Israeli industry and Israeli defense industries over 20 years.
In July 2021, Thyssenkrupp signed a mutual procurement agreement with the Israeli Ministry of Economy totaling more than USD 323.7 million. The agreement includes the cooperation of Israeli companies in ThyssenKrupp projects around the world, and the execution of joint projects that will include the transfer of new knowledge to Israel, especially in the fields of marine technology.
A German industrial and technology multinational conglomerate, active in the fields of Automotive Technology, Decarbon Technologies, Materials Services and Marine Systems.
The company’s marine systems division, ThyssenKrupp Marine Systems, has provided warship vessels and submarines to the Israeli Navy since the 1990s.
The company provided Israel with the “Sa’ar 6” warships.
Gaza 2023
On 14 October 2023, during Israel's attack on Gaza, the Israeli military carried out the first-ever operational attack by the Sa’ar 6 ships. The two ships, named Ahi Oz and Ahi Magen, carried out the attacks from the surface of the sea towards the besieged Gaza, in cooperation with the air forces and the ground forces. In December 2023, the Israeli military announced it had completed the operationalization of all four ships. For more see Who Profits’ report The Companies Supplying Weapons to Israel’s Attack on Gaza.
In May 2015, the IMOD contracted ThyssenKrupp to supply four new Sa’ar 6-class warship vessels corvettes for the Israeli Navy at an estimated cost of USD 480 million, of which one-third was funded by the German government. The contract included the construction of the platform including the hull and propulsion systems, engine and electricity. By July 2021, all four Sa'ar 6 corvettes - INS Magen, INS Oz, INS Independence and INS Victory - were transferred to the Israeli Navy.
The ships were designed to offer enhanced attack capabilities and to be equipped with a range of weaponry and combat systems, including anti-air and anti-ship missiles and machine guns. The vessels were built by ThyssenKrupp in a joint venture with German Naval Yards Kiel, based on advanced German battleships, and the outfitting of combat systems, sensors and other subsystems was carried out in Israel.
The Sa’ar ships are deployed in the maritime space and are also responsible for protecting Israel's gas rigs in the Mediterranean and are used to conduct patrol duties in shipping lanes and other strategic assets in the Mediterranean.
SK Group - Israel Weapon Industries’ subsidiary, Israel Shipyards Ltd., provides the maintenance and repair services for the Sa’ar 6-class corvettes and submarines.
Submarines
In January 2022, the company signed an agreement with the IMOD to build three advanced operational submarines for the Israeli Navy for €3 billion (USD 3.24 million). The submarines, an upgraded version of the existing Dolphin-class model that Israel already has, will form a new class called Dakar and will be delivered within nine years. Part of the cost will be financed by the German government under an agreement signed between the two countries in 2017. The agreement also calls for the construction of a simulator in Israel, as well as logistic support and the supply of spare parts.
The agreement includes a parallel contract, signed between the company and the Israeli Economy and Industry Ministry, for reciprocal procurement and industrial strategic cooperation. The agreement calls for Thyssenkrupp to make over €850 million (USD 916.8 million) purchases from Israeli industry and Israeli defense industries over 20 years.
In July 2021, Thyssenkrupp signed a mutual procurement agreement with the Israeli Ministry of Economy totaling more than USD 323.7 million. The agreement includes the cooperation of Israeli companies in ThyssenKrupp projects around the world, and the execution of joint projects that will include the transfer of new knowledge to Israel, especially in the fields of marine technology.
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ThyssenKrupp AG
Head office: thyssenkrupp Allee 1, 45143 Essen, Germany. Tel.: +49-2018440
A German industrial and technology multinational conglomerate, active in the fields of Automotive Technology, Decarbon Technologies, Materials Services and Marine Systems.
The company’s marine systems division, ThyssenKrupp Marine Systems, has provided warship vessels and submarines to the Israeli Navy since the 1990s.
The company provided Israel with the “Sa’ar 6” warships.
Gaza 2023
On 14 October 2023, during Israel's attack on Gaza, the Israeli military carried out the first-ever operational attack by the Sa’ar 6 ships. The two ships, named Ahi Oz and Ahi Magen, carried out the attacks from the surface of the sea towards the besieged Gaza, in cooperation with the air forces and the ground forces. In December 2023, the Israeli military announced it had completed the operationalization of all four ships. For more see Who Profits’ report The Companies Supplying Weapons to Israel’s Attack on Gaza.
In May 2015, the IMOD contracted ThyssenKrupp to supply four new Sa’ar 6-class warship vessels corvettes for the Israeli Navy at an estimated cost of USD 480 million, of which one-third was funded by the German government. The contract included the construction of the platform including the hull and propulsion systems, engine and electricity. By July 2021, all four Sa'ar 6 corvettes - INS Magen, INS Oz, INS Independence and INS Victory - were transferred to the Israeli Navy.
The ships were designed to offer enhanced attack capabilities and to be equipped with a range of weaponry and combat systems, including anti-air and anti-ship missiles and machine guns. The vessels were built by ThyssenKrupp in a joint venture with German Naval Yards Kiel, based on advanced German battleships, and the outfitting of combat systems, sensors and other subsystems was carried out in Israel.
The Sa’ar ships are deployed in the maritime space and are also responsible for protecting Israel's gas rigs in the Mediterranean and are used to conduct patrol duties in shipping lanes and other strategic assets in the Mediterranean.
SK Group - Israel Weapon Industries’ subsidiary, Israel Shipyards Ltd., provides the maintenance and repair services for the Sa’ar 6-class corvettes and submarines.
Submarines
In January 2022, the company signed an agreement with the IMOD to build three advanced operational submarines for the Israeli Navy for €3 billion (USD 3.24 million). The submarines, an upgraded version of the existing Dolphin-class model that Israel already has, will form a new class called Dakar and will be delivered within nine years. Part of the cost will be financed by the German government under an agreement signed between the two countries in 2017. The agreement also calls for the construction of a simulator in Israel, as well as logistic support and the supply of spare parts.
The agreement includes a parallel contract, signed between the company and the Israeli Economy and Industry Ministry, for reciprocal procurement and industrial strategic cooperation. The agreement calls for Thyssenkrupp to make over €850 million (USD 916.8 million) purchases from Israeli industry and Israeli defense industries over 20 years.
In July 2021, Thyssenkrupp signed a mutual procurement agreement with the Israeli Ministry of Economy totaling more than USD 323.7 million. The agreement includes the cooperation of Israeli companies in ThyssenKrupp projects around the world, and the execution of joint projects that will include the transfer of new knowledge to Israel, especially in the fields of marine technology.
Ownership
The company is publicly traded on the Frankfurt Stock Exchange and the Dusseldorf Stock Exchange under the ticker symbol: TKA; and as American depositary receipts in the USA under the ticker symbol: TKAMY.
Major shareholders include: Alfried Krupp von Bohlen und Halbach-Stiftung (20.93%), Harris Associates LP (3.96%), Norges Bank Investment Management (3.01%), The Vanguard Group, Inc. (2.7%), Amundi Asset Management SA (Investment Management) (2.54%), Dimensional Fund Advisors LP (2.11%), BlackRock Fund Advisors (1.05%).
CEO: Miguel Ángel López Borrego
Subsidiaries
The company owns 350 subsidiaries worldwide
Partners
Boeing, Alstom, SK Group - Israel Weapon Industries, Vsense Technologies, Japan Seiko Co., Wilhelmsen, DL E&C, Multivac, Holmach Ltd., Illies, Gardella, Seterm, ClearVUE.Business
* This section refers to the company's general business partners