Thyssenkrupp will hold an extraordinary general assembly to complete a spin-off in the warship division in this calendar year. This was revealed by Chief Executive Miguel Lopez in a podcast published on Tuesday.

Lopez, speaking on a podcast by the German newspaper WAZ, said that order books are full in advance of Thyssenkrupp's planned spin-off, which produces frigates and subs.

Lopez stated that the spin-off is also "strategically relevant" for Germany, with an eye on possible collaboration in the European Defence Sector.

Friedrich Merz, the likely next German Chancellor, who is the leader of his conservative party in Sunday's parliamentary elections, said that Europe must establish an independent defense capability as soon as possible. (Writing and editing by Tomaszjanowski, Friederike Heine)

(source: Reuters)