L-3 Offshore of Coventry, UK, has signed a teaming agreement with STX Engine, the subsidiary of South Korea’s STX Group, under which the two organizations are to collaborate in the marketing and supply of integrated power, electric propulsion, dynamic positioning and automation systems for the Korean offshore market as well as other STX Group concerns.
The agreement, recently signed in Seoul by Dong-Hak Chung, President and CEO of STX Engine and Klaus Lorenz, Vice-President European Operations of L-3’s Marine & Power Systems Group, is expected to consolidate L-3 Offshore’s access to local markets for ship building and operating equipment. At the same time it will enable STX Engine to design, produce and supply electronic and electrical systems for offshore plants in addition to providing full testing support services.
Under the terms of the agreement also, STX Engine intends to market offshore plant engines and electro-mechanical systems as complete package assemblies. It also anticipates increased co-operation with STX Europe, particularly in Norway.