Abu Dhabi MAR, a holding company based in Abu Dhabi, has entered into a strategic partnership with the German company ThyssenKrupp Marine Systems.
The partnership involves the establishment of a 50:50 joint venture for the construction of naval surface ships. In addition, the agreement will allow Abu Dhabi MAR Group to move into the mega-yachts, repairs and ships' components businesses. To this end Abu Dhabi MAR Group plans to acquire a majority 80% stake in each of the companies Blohm + Voss Shipyards, Blohm + Voss Repair, and Blohm + Voss Industries. In the mega-yacht sector, this opens up good prospects for expanding the clientele for this exclusive product.
(Abu Dhabi MAR Group is an international shipbuilding group. The group has the capacity of building civilian ships up to 200 meters as well as military and commercial vessels. The group is jointly owned by Al Ain International Group (70%) and Privinvest (30%). Mr. Iskandar Safa is the Managing Director of Abu Dhabi MAR Group. Abu Dhabi MAR Group’s order book exceeds 1 billion Euros. The shipbuilding group employs 2,000 people globally.)
Their full press release follows: