Share of the Howaldtswerke, issued 19 June 1889View of HDW-shipyard at KielAn early submarine, the Brandtaucher, in the museum in Dresden
HDW was founded October 1, 1838 in Kiel by engineer August Howaldt and entrepreneur Johann Schweffel under the name Maschinenbauanstalt und Eisengießerei Schweffel & Howaldt (Machine Factory and Iron Foundry Schweffel & Howaldt), initially building boilers.
The first ship built under the company's new name Howaldtswerke was a small steamer, named Vorwärts, built in 1865. Business expanded rapidly as Germany became a maritime power and, by the start of the 20th century, around 390 ships had been completed.
In 1892 the company started a subsidiary in Austro-HungarianFiume on the coast of the Adriatic Sea. The subsidiary closed ten years later but the yard remains open under the name 3. Maj.
With Kiel being one of the two main bases of the Kaiserliche Marine, the shipyard also benefited much from navy maintenance, repair and construction contracts. During World War I the company also built a number of U-boats. By 1937, the company had yards in Kiel and in Hamburg, and was taken over by the Kriegsmarine. During World War II, Howaldtswerke built 33 VIIC U-boats in Hamburg and 31 in Kiel.
After the end of World War II, Howaldtswerke was the only major shipyard in Kiel that was not dismantled. The yard flourished during the "economic miracle" of the 1960s, with the construction of freighters and tankers, and again expanded by opening a shipyard in Hamburg. Howaldtswerke merged with Deutsche Werft in Hamburg in 1968, and the company took the new name Howaldtswerke-Deutsche Werft (HDW). Pressure from cheaper competitors in Japan and South Korea caused the closure of the Hamburg yard in 1985.
In March 2002, the American financial investor One Equity Partner (OEP) took over the majority of Babcock AG at HDW. Shortly after that, Babcock AG had to file for insolvency and called for a reserved transaction, but the OEP was able to avoid this.[1]
In July 2011, TKMS announced that it has confirmed an existing deal to sell the civilian shipbuilding assets of HDW Gaarden to Abu Dhabi MAR.[2][3][4][5]
^*Torsten Oltmanns, Ralf-Dieter Brunowsky: Re: think CEO 2. Managers in the media trap (abstract; in German), original title: Manager in der Medienfalle, BrunoMedia, Cologne 2009, ISBN978-3-9811506-7-4, S. 35
