Babcock Builds Greek Supply Chain for Hellenic Frigate Program
Aerospace, defense and security company Babcock said it is gearing up to showcase its frigate design, build and support credentials as it continues its engagement in Greece around its bid to deliver the Hellenic Navy’s new frigate modernization program.Supported by the U.K. government, Babcock has been fine-tuning its program to provide the Hellenic Navy with a Hydra Class upgrade program, an interim frigate capability and four Babcock Arrowhead 140 frigates.Babcock said its industrial strategy would see it support the modernization of Greek shipyard facilities…
Onex Elefsis Acuires Elefsina Shipyards
Greece-based Onex Elefsis Shipyards announced that it will allocate up to $400 million, over a 15-year period, to purchase and finance the operation of the Elefsina Shipyards, west of Piraeus.The Greek shipyard said that the US investment firm Chatsworth Securities has agreed with it to make an investment, as part of efforts to save the complex from bankruptcy.Onex Elefsis will acquire the second biggest Shipyard in Greece, through Greek Bankruptcy Law and rehabilitation plan that is expected to be approved by the Greek Courts within 3-6 months.Also, the Company is working on alternatives with the Greek Government and Creditors to re…
Three Vie To Buy Shipyard
Greece received three bids for the sale of a majority stake in Hellenic (Skaramanga) Shipyards, one of 10 privatizations the development ministry has planned for 2001. "We have three bids, but one bid has no letter of guarantee. It's important that we have two bids that are good. They are what we were expecting," Deputy Development Minister Alekos Kalafatis said. Germany's biggest shipyard Howaldtswerke-Deutsche Werft AG (HDW)-Ferrostaal AG and Greece's Neorion Shipyards subsidiary Elefsina Shipyards submitted binding bids, he said. An expression of continued interest, without a letter of guarantee, came from France's Constructions Mecaniques de Normandie (CMN).
