The German defence group Rheinmetall, based in Düsseldorf, has agreed to acquire Naval Vessels Lürssen (NVL), the military shipbuilding arm of Lürssen Group in Bremen. The purchase price was not disclosed, and the takeover is expected to complete in early 2026 once relevant antitrust approvals are secured.

NVL, separated from Lürssen’s yachting business in 2021, operates four shipyards in northern Germany, including Blohm+Voss in Hamburg and a site in Wolgast. It employs about 2,100 people and recorded revenues of approximately €1 billion in 2024.

Rheinmetall already supplies maritime systems such as protection systems, sensors and simulation technology; the acquisition allows it to offer full naval platforms like frigates or corvettes. Chief Executive Armin Papperger described the deal as essential to consolidating Germany’s and Europe’s defence industry.

This comes amid a broader realignment of Germany’s naval sector. Thyssenkrupp is spinning off 49% of its marine division, Thyssenkrupp Marine Systems (TKMS), to shareholders; the remaining 51% will stay with the parent company, and the new entity will be listed on the Frankfurt Stock Exchange.