ST Marine Signs MOUs with DCNS and Kockums AB

(Singapore, May 13, 2009) -- Singapore Technologies Engineering Ltd (ST Engineering) today announced that its marine arm, Singapore Technologies Marine Ltd (ST Marine) has signed two separate Memoranda of Understanding (MOU) with French defence powerhouse, DCNS, as well as Swedish submarine experts, Kockums AB, at IMDEXASIA 2009 which is being held at Singapore Expo.

The MOU between ST Marine and DCNS sets down the target date and other various activities leading to the execution of a joint venture agreement to provide an agreed scope of support to be contracted for the Republic of Singapore Navy's (RSN) six frigates. The other MOU is between ST Marine and Kockums AB, where a joint venture company is also in the works to be set up to offer a comprehensive suite of technical and maintenance support for RSN's submarines. The joint venture companies are expected to be formed when due diligence have been completed and contracts secured.


"Our collaboration with ST Marine on the building of the Formidable-Class Frigates has been a real success. This MOU reflects DCNS' determination to forge a stronger partnership with ST Marine and to work closely over the long term with the RSN to provide the navy with the highest performance services." ~ Mr Bernard PLANCHAIS, Chief Operating Officer, DCNS

"We are delighted to sign this MOU between ST Marine and Kockums AB. We have collaborated with ST Marine in many ways for many years; we value this partnership and look forward to extending our collaboration with them." ~ Jan-Olof JOHANSSON, Chief Executive Officer, Kockums AB

"We are very excited about partnering DCNS and Kockums AB, both defence experts in their own rights. ST Marine hopes to leverage on these partnerships to offer our customer RSN, effective solutions throughout the life cycle of their vessels. We hope the joint venture companies will value add to our partners in their regional growth plan." ~ CHANG Cheow Teck, President, ST Marine

Source : Singapore Technologies Engineering Ltd (SGX: ST Engg)