EU Clears Thales, DCN Shipbuilding Combo

Friday, March 23, 2007
France's two main warship makers, DCN and Thales SA, won EU approval to combine their shipbuilding businesses, boosting the prospect of wider consolidation in Europe's fragmented naval sector. The French government has backed the deal, in which state-owned naval shipyard DCN is buying Thales' shipbuilding activities in France _ excluding its parts-making business. Thales has taken a 25 percent stake in DCN, with the option of raising the stake to 35 percent over the next two years.

The European Commission said its investigation showed the deal would not cause antitrust problems because the two already cooperate closely and a number of effective rivals would remain standing. Thales had already sold most of its naval equipment business to DCN before the deal, it said, meaning that any new changes would be limited and there was little chance of the combined company choking supply to rivals. DCN will acquire Thales' naval assets, including its stakes in their existing joint ventures, Armaris and MOPA2 _ the unit established to build a second aircraft carrier for the French navy. Thales paid around $180m for a 25 percent stake in DCN, valuing the company at euro2.8 billion $3.4b. The French state currently owns a 75 percent stake in DCN, and held 31 percent of Thales when the deal was announced on Dec. 15.

Unlike the military aerospace sector, concentrated around Britain's BAE Systems PLC and Airbus' Franco-German parent, European Aeronautic Defence and Space Co., Europe's warship building industry remains fragmented and inefficient. But any attempt to build a European giant to rival U.S. warship maker Northrop Grumman Corp. would be fraught with political problems _ not least of which would be the prospect of widespread shipyard restructuring and job cuts. Source: Houston Chronicle

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

LNG: Did the Greeks Get it Wrong?

In December 2013, Alibra’s market report front page read: “When in shipping, do as the Greeks do.” At that time, Alibra was referring to the fact that 31% of the

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

Live Fish Carrier Launched at Gondan

At high tide, the vessel “MARTIN SÆLE”, the first Live Fish Carrier built by Gondan Shipyard in Figueras, was successfully launched today. Representatives of the owner of the vessel,

Cruise Ship Trends

China to Add 8 Cruises to Push Tourism in South China Sea

Three State-owned enterprises from the shipping, tourism and construction sectors will cooperate to equip up to eight cruise liners and offer diversified sightseeing

RINA Awards Carnival Maritime with Environmental, Safety

RINA recently awarded Carnival Maritime GmbH ISO 14001 and BS OHSAS 18001 certificates.   Now the Carnival Maritime office in Hamburg as well as 26 ships in

40% Cruise Ships Use Outdated Sewage Treatment Plants

ACO Marine has welcomed the findings reported in the Friends of the Earth 2016 Cruise Ship Report Card, the annual survey of cruise shipping’s impact on the environment,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0668 sec (15 req/sec)