DCNS and ST Marine to Set Up Joint Venture

DCNS and Singapore Technologies Marine Ltd (ST Marine) signed a Memorandum of Understanding (MOU) today with the objective of setting up a joint venture to provide through life support for the Republic of Singapore Navy's Formidable-class frigates.

(Singapore, May 13, 2009) -- The MOU between DCNS and ST Marine which was signed today will set a precedent leading to the execution of a joint venture agreement. This joint venture will provide enhanced through life support to the six Formidable-class frigates.

Together with ST Marine, DCNS will provide extensive know-how to avail high value-added; long-term support solutions, including engineering studies for modifications or improved performance, proper maintenance, optimisation of supply chain and training.

"We are very excited about partnering DCNS. ST Marine hopes to leverage on this partnership to offer our customer, RSN, effective solutions to extend the life cycle of their vessels." CHANG Cheow Teck, President, ST Marine.

"Our collaboration with ST Marine for 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 them with the highest performance services." Bernard PLANCHAIS, Chief Operating Officer, DCNS.

DCNS and ST Marine have been working in conjunction for the past nine years in the building of the six Formidable-class frigates for the Republic of Singapore Navy (RSN).

Source : DCNS