BERLIN, (Reuters) – Thyssenkrupp (ETR) Marine Systems is aiming to be the leading player in consolidating Europe’s shipyard sector. According to its chief executive officer, Welt am Sonntag.

According to Oliver Burkhard, “If it is too hard for you to reach a European giant, then a German champion might be made first.”

Burkhard suggested that a merger could be made with German naval yards (GNYK) and smaller German competitors Luerssen.

Burkhard explained that since Russia invaded Ukraine in 2014, the German government had announced a special 100 billion-euro fund to support the military.

We’re also looking at new locations for our production. “There are many possibilities,” he stated, noting that the company would be interested in buying parts from MV Werften cruise shipbuilder, which was declared bankrupt in January.