Table: A Sub Story
Schweffel & Howaldt, a machine maker and foundry that later evolves into shipbuilder HDW, opens for business.
Company launches the first seaworthy submarine for use in war against Denmark.
Company builds U-boats for the German navy in both world wars, as well as passenger liners, cargo ships, and tankers.
Deutsche Babcock, later renamed Babcock Borsig, swaps its stake in Preussag for 50% stake in HDW.
New York raider Guy P. Wyser-Pratte begins buying shares in Babcock Borsig; later increases holding to 8.2%.
Babcock CEO Klaus Lederer assures Wyser-Pratte as well as other investors that his plan is to concentrate on the submarine business and sell unprofitable lines.
Lederer unveils plans to sell the submarine business to Bank One's One Equity Partners. Wyser-Pratte sues.
Northrop Grumman confirms talks with HDW about cooperation, raising concerns the companies will seek to circumvent a German ban on submarine sales to Taiwan.
Data: HDW, Babcock Borsig, BusinessWeek