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Italy's Fincantieri Gets Indian Aircraft Carrier Contract
July 28, 2004: 10:31 a.m. EST
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MILAN -(Dow Jones)- Italian state-owned shipbuilder Fincantieri SpA said Wednesday it has signed two contracts with the Cochin shipyard in India to help build a new aircraft carrier for the Indian Navy.
Fincantieri said it will assess the Indian ship's design and will be responsible for its "propulsion system integration," while also supplying the engineering and design for the ship's ancillary propulsion systems and main plants.
The contracts also require that Fincantieri provide assistance during construction and testing.
Unlisted Fincantieri did not disclose financial details of the deal.
India's planned 38,000-ton "Air Defense Ship" will be one of the largest aircraft carriers in service with conventional propulsion based on four General Electric Co. (GE) LM 2500 gas turbines.
The propulsion system is similar to that of Italy's Cavour aircraft carrier, built by Fincantieri and launched in Genoa on July 20 of this year.
http://money.cnn.com/services/tickerheadlines/for5/200407281031DOWJONESDJONLINE000578_FORTUNE5.htm
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Fincantieri to participate in the design and construction of a new aircraft carrier for the Indian Navy
Fincantieri, through its Naval Vessel Business Unit, has recently signed two contracts with the Indian shipyard of Cochin; the contracts relate to design and assistance during the construction of a new aircraft carrier, the ¡°Air Defence Ship¡±, for the Indian Navy. One of the most important players in the Indian shipbuilding industry, Cochin shipyard is active in the field of merchant and naval shipbuilding as well as ship conversions and repairs.
The first contract covers assessment of the entire ship¡¯s design and responsibility for ¡°propulsion system integration¡± in addition to providing assistance to the shipyard during installation of the engines and during the successive phase of tests of integration and sea trials.
During the development of the design a team of officers of the Indian Navy and engineering experts from Cochin shipyard will work in Italy together with Fincantieri technical staff at the headquarters of the Naval Vessel Business Unit.
The second contract regards the supply of the engineering and detailed design of the ancillary propulsion systems and the ship¡¯s main plants. Again, Fincantieri will provide the shipyard with assistance while construction is in progress and during tests and trials.
The two contracts are expected to cover approximately 2 years, although assistance will continue until the trials and delivery have taken place - scheduled to occur by the end of this decade.
The new ¡°Air Defence Ship¡± will be one of the largest aircraft carriers in service with conventional propulsion. It will have a displacement of 38,000 tonnes and a propulsion system based on 4 General Electric LM 2500 gas turbines, which is very similar to that of the aircraft carrier ¡°Cavour¡±, under construction for the Italian Navy and recently launched at Fincantieri¡¯s Riva Trigoso (Genoa) shipyard on 20th July with the President of the Italian Republic Carlo Azeglio Ciampi as Guest of Honour.
Trieste, July 28th, 2004
July 28, 2004: 10:31 a.m. EST
-
MILAN -(Dow Jones)- Italian state-owned shipbuilder Fincantieri SpA said Wednesday it has signed two contracts with the Cochin shipyard in India to help build a new aircraft carrier for the Indian Navy.
Fincantieri said it will assess the Indian ship's design and will be responsible for its "propulsion system integration," while also supplying the engineering and design for the ship's ancillary propulsion systems and main plants.
The contracts also require that Fincantieri provide assistance during construction and testing.
Unlisted Fincantieri did not disclose financial details of the deal.
India's planned 38,000-ton "Air Defense Ship" will be one of the largest aircraft carriers in service with conventional propulsion based on four General Electric Co. (GE) LM 2500 gas turbines.
The propulsion system is similar to that of Italy's Cavour aircraft carrier, built by Fincantieri and launched in Genoa on July 20 of this year.
http://money.cnn.com/services/tickerheadlines/for5/200407281031DOWJONESDJONLINE000578_FORTUNE5.htm
------------------------------------------------------------------
Fincantieri to participate in the design and construction of a new aircraft carrier for the Indian Navy
Fincantieri, through its Naval Vessel Business Unit, has recently signed two contracts with the Indian shipyard of Cochin; the contracts relate to design and assistance during the construction of a new aircraft carrier, the ¡°Air Defence Ship¡±, for the Indian Navy. One of the most important players in the Indian shipbuilding industry, Cochin shipyard is active in the field of merchant and naval shipbuilding as well as ship conversions and repairs.
The first contract covers assessment of the entire ship¡¯s design and responsibility for ¡°propulsion system integration¡± in addition to providing assistance to the shipyard during installation of the engines and during the successive phase of tests of integration and sea trials.
During the development of the design a team of officers of the Indian Navy and engineering experts from Cochin shipyard will work in Italy together with Fincantieri technical staff at the headquarters of the Naval Vessel Business Unit.
The second contract regards the supply of the engineering and detailed design of the ancillary propulsion systems and the ship¡¯s main plants. Again, Fincantieri will provide the shipyard with assistance while construction is in progress and during tests and trials.
The two contracts are expected to cover approximately 2 years, although assistance will continue until the trials and delivery have taken place - scheduled to occur by the end of this decade.
The new ¡°Air Defence Ship¡± will be one of the largest aircraft carriers in service with conventional propulsion. It will have a displacement of 38,000 tonnes and a propulsion system based on 4 General Electric LM 2500 gas turbines, which is very similar to that of the aircraft carrier ¡°Cavour¡±, under construction for the Italian Navy and recently launched at Fincantieri¡¯s Riva Trigoso (Genoa) shipyard on 20th July with the President of the Italian Republic Carlo Azeglio Ciampi as Guest of Honour.
Trieste, July 28th, 2004