Dispute threatens ThyssenKrupp's submarine business

|About: ThyssenKrupp AG ADR (TYEKY)|By:, SA News Editor

A dispute between the Swedish armed forces and ThyssenKrupp (TYEKY, TYEKF) has prompted the country to pull contracts for the next generation of submarines from the world's largest exporter of non-nuclear submarines and threatens one of the company's most profitable operations.

Sweden has signaled that it is considering giving the work to Saab (SAABF), which currently doesn't even build manned submarines.

Swedish officials are said to be upset that their country hasn't exported a new submarine since Swedish submarine maker Kockums was integrated into ThyssenKrupp in 2005, WSJ reports.