CEO, TKMS AG & Co. KGaA Oliver Burkhard, CEO Thyssenkrupp AG Miguel Lopez, CFO Paul Glaser and Chairman of the Supervisory Board of Thyssenkrupp nucera AG & Co. KGaA Volkmar Dinstuhl attend the bell ringing ceremony at the stock exchange in Frankfurt, Germany, October 20, 2025. TKMS, which builds submarines and frigates and develops mine-sweeping sonar technology, will be spun-off from parent Thyssenkrupp and separately listed on the Frankfurt stock exchange. REUTERS/Tilman Blasshofer