Germany Shifts Frigate Deal to Domestic Builder

Germany’s defense ministry cancels its $18 billion frigate deal with Dutch firm Damen, citing spiraling costs and delays, and pivots to a new plan with German giant ThyssenKrupp Marine Systems to build eight MEKO A-200 DEU vessels for $11.6 billion — with Rheinmetall now leading the contract. The move, expected this summer, has already shaken markets, boosting ThyssenKrupp while hurting Rheinmetall’s shares. Damen faces mounting scrutiny over its troubled defense projects, including delays and doubled costs for Dutch and Belgian navies, as Germany’s new strategy reshapes the naval landscape. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/0522e9741a4e0da1