Rheinmetall AG (ETR:RHMG) said on Sunday it has reached an agreement to buy Naval Vessels Lürssen (NVL), the military shipbuilding arm of Germany’s Lürssen Group.
The deal is subject to regulatory approval and is expected to close in early 2026. The company did not disclose financial terms.
The acquisition will turn Düsseldorf-based Rheinmetall into a naval systems provider, adding shipbuilding to its core land and air defence businesses, the company said in a press release.
"The current conflict situation reveals that military enforcement capabilities are also becoming increasingly important in the naval sector," the company said.
"Rheinmetall intends to meet the massive increase in demand from naval forces and rising procurement budgets with high-performance system solutions," it added.
NVL employs about 2,100 people and posted sales of around 1 billion euros in 2024. It operates four shipyards in northern Germany, including Blohm+Voss in Hamburg and Peene-Werft in Wolgast.
The group, formerly known as Lürssen Defence, has built about 1,000 vessels for more than 50 navies and coast guards worldwide.
Rheinmetall said it expects synergies with its vehicle systems operations in northern Germany and plans to use NVL’s infrastructure and expertise to expand production capacity.
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