Skaramanga News

Transas Hellas in collaboration with Transas Mediterranean SAS supplied the Naval Training Command of the Hellenic Navy with a Bridge Simulator. The bridge simulator covers the training needs of the HN/NTC (Hellenic Navy / Naval Training Command), regarding the training and practice of Hellenic Navy War Ships team as well as the HN personnel. The simulator also meets the standards of the IMO regulations. Additionally it has the ability to network with other simulators and will be able to expand and operate up to 16 bridges.

Leica Marine GPS has won orders to supply high-precision marine DGPS receivers for four new Hellenic Navy gunboats. Each of the gunboats will be fitted with a Leica MX 420/8 DGPS receiver, which will be used as the primary navigation aid. The MX 420/8 will be interfaced with other bridge equipment, including the BridgeMaster E navigation radars, DSC radio, central clock system and gyrocompass. The contract includes options for two more gunboats. The equipment will be installed and commissioned by Radio Marine Electronics, the Greek sales and service agent for Leica Marine GPS. The four new gunboats are being built at the Hellenic Shipyard Co., in Skaramanga, with the first scheduled delivery in mid-2002.

Greek engineering and metallurgy group Mytilineos is eyeing a majority stake in Hellenic Shipyards in an effort to penetrate further into Greece's defense industry, a company official said. "The group is interested in acquiring a 51 percent stake in Hellenic Shipyards at Skaramanga, however, this will depend on the terms to be set by the Greek government," Vangelis Mytilineos said. "The shipyard has liabilities of 100 billion drachmas and 2,200 employees. Last week, in an amendment to a draft bill presented to parliament, Greece allowed for ETBA Bank that owns 51 percent of the shipyard to reduce its stake, opening the way for its full privatization.

Litton Marine Systems (LMS) won a contract to supply navigation radars for four new Hellenic Navy gunboats. The contract was awarded to Litton by Thomson-CSF Signaal, which is the primary combat systems contractor for the four new vessels being built at the Hellenic Shipyard Co., Skaramanga. The first of the new gunboats will be delivered to the Hellenic Navy starting in mid-2002. Litton will supply Decca BridgeMaster E naval radars with a special naval transceiver unit and 250-mm color ARPA display. The radars will be integrated by Signaal into the TACTICOS combat management system. The contract includes equipment, installation, commissioning, spares support and training for Hellenic Navy personnel.

Greece's development ministry appointed Alpha Finance to advise it on the planned sale of Hellenic Shipyards. Alpha Finance will undertake all activities on finding an investor for Hellenic Shipyards at Skaramanga via an international tender, with an eye to selling up to 100 percent of the enterprise. The ministry said the tender is scheduled to be held in the next four months. Hellenic Shipyards is one of 10 privatizations the development ministry said it has planned for 2001.

Nine companies expressed interest in the privatization of Hellenic Shipyards at Skaramanga, part of the country's privatization agenda for 2001, the development ministry reported. The government's advisers on the project will shortlist bidders in the next 15 days and then ask for binding bids for the shipyard, whose major shareholders are ETBA Bank and workers. The ministry expects the project to be concluded by June. The companies that expressed interest are: Constructions Mecaniques de Normandie; General Electric Company; Howaldtswerke Deutsche Werft AG-Ferrostaal AG; Louis Cruise Lines Ltd ; Mentor Technologies; Elefsina Industrial Companies SA; Pacific & Atlantic Corporation; Royal Schelde BV-Damen Shipyards Group BV; and Vosper Thornycroft Ltd.

Greece's Skaramanga shipyard workers are in favor of a Hoawaldtswerke Deutsche Werft-Ferrostaal (HDW/FS) offer to buy out 100 percent of the shipyard for 1.5 billion drachmas ($3.8 million), a shipyard executive said. George Kontakis, vice president of Skaramanga shipyards and representative of the 49 percent stake owned by its workers, said the union's approval was unanimous. "The union's board decided unanimously (in favor), as ETBA Bank did, and announced HDW/FS as the highest bidder for the sale of 100 percent of the shipyard," Kontakis said. Earlier this week ETBA Bank, which holds a 51 percent stake in Skaramanga shipyards, said…

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).

Hellenic Industrial Bank (ETBA) was outperforming the Athens bourse on expectations it will soon sell its majority stake in Skaramanga shipyards, analysts said. ETBA, which owns 51 percent of Hellenic Shipyards Skaramanga, said it would start negotiations with German shipyard HDW Werft, which was the highest bidder in the privatization of the shipyard. ETBA shares were up 3.81 percent to 6.00 euros at 1102 GMT, outperforming the Athens bourse's benchmark general index, which was down 0.92 percent, and the banking sector index which was down 1.45 percent. "Procedures concerning Skaramanga are being sped up, and this could accelerate the privatization of ETBA Bank as well," said Costas Vergos, analyst at Magna Trust Securities.

Hellenic Industrial Bank was outperforming the Athens bourse on Wednesday on expectations it will soon sell its majority stake in Skaramanga shipyards, analysts said. ETBA, which owns 51 percent of Hellenic Shipyards Skaramanga, said late on Tuesday it would start negotiations with German shipyard HDW Werft, which was the highest bidder in the privatization of the shipyard. ETBA shares were up 3.81 percent to $5.27, outperforming the Athens bourse's benchmark general index, which was down 0.92 percent, and the banking sector index, which was down 1.45 percent. "Procedures concerning Skaramanga are being sped up, and this could accelerate the privatization of ETBA Bank as well," said Costas Vergos, analyst at Magna Trust Securities.