Monday, November 21, 2005

Franco-Iralian FREMM Multi-Role Frigate Project Formalized

OCCAR has awarded France's DCN and Thales (Armaris) and Italy's Fincanteri and Finmeccanica (Orizzonte Sistemi Navale) the first phase of contracts for developing and building the multi-role warships. MBDA will also be a major participant, as the FREMMs will mostly be equipped with its missiles. Up to 27 frigates are currently planned, making it one of Europe's largest-ever warship programs; Armaris has also signaled a strong desire to sell the FREMM frigates abroad. With respect to this contract...

OCCAR's initial phase contract covers the development, building and in-service support for the first 8 frigates destined for the French Navy: 6 in an anti-submarine warfare (ASW) version, and 2 in a land-strike version. The contract, to be apportioned equally between Armaris shareholders DCN and Thales, is valued at EUR 3.5 billion (currently about $4.1 billion). The vessels will be delivered in stages from 2011 to 2015.

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