DCNS, the French ship and submarine builder may be heading for a loss during 2014, the fist time since 2003.
Non delivery of the Mistral amphibious assault ship to Russia and delays in the Scorpene and Barracuda submarine projects to different customers has weighed down on the financials of the company, various French media outlets reported today.
In addition, a delay in the civil nuclear program of France has affected revenues of DNCS. The loss of DNCS is also expected to affect the financials of Thales which owns 35% of DCNS.
DCNS is under threat of arbitration by Russia for holding back delivery of the Mistral ship which may lead to Euro 2.2 billion fine if the proceedings go against it. Russia has refused to make anymore payments under the Euro 1.1 billion deal unless the contract for the first ship is fulfilled.
However, its performance may improve in 2015 due to a recent contract with Egypt to supply warships and another with Saudi Arabia for patrol vessels.
DCNS has developed in partnership with STX France a new landing craft to increase the operational capabilities of the Mistral amphibious assault vessel. The landing craft called CTM NG has been designed as an integrated amphibious force organized system around the Mistral of assault vessels, the Mer et marine reported on its website today
DCNS announced Friday that it has successfully tested a real-time demonstrator for an asymmetric response to terrorist and piracy attacks. This DCNS system aims to accelerate decision taking and prevent collateral damage in close-quarter defense situations
DCNS announced Friday that it has inaugurated the main building for the Scorpene submarine construction shipyard for Brazil in Itaguai in the bay of Sepetiba. This industrial facility brings together specific resources and tools for the assembly and equipping of Scorpene submarine sections in the frame of the Brazilian Navy submarine programme
French shipbuilder DCNS has started work on the second Mistral-class amphibious assault ship built for Russia even as Paris has withheld export clearance for the first of the ships. The second helicopter carrier, named Sevastopol left its dry dock in the French port city of Saint-Nazaire on Thursday, RIA Novosti correspondent reported
France has denied Chinese media reports of possible sale of Mistral destroyers (meant for Russia) to China, Local media reported. “The French Navy is on a visit to Shanghai between May 9-15 and it may try to sell its Mistral-class assault ships to China,” WantChinaTimes website quoted Duowei News as reporting
Brazillian Defense Minister (MoD), Jaques Wagner visited the DCNS Cherbourg (France) site to meet the nations teams participating in technology transfer for four Scorpene type Conventional submarines, DCNS said in a statement Tuesday. The minister visited the workshops which are part of the submarine program on 11 May 2015 along with Hervé Guillou, Chairman and Chief Executive Officer of DCNS
France is unlikely to commission the two Mistral-class amphibious assault ships (Vladivostok and Sevastopol) to Russia but will instead look for international buyers after refunding Moscow for the cost of the ships. India, China and Brazil have been cited as possible buyers for the two ships
Moscow has welcomed French President François Hollandes statement that his government will reimburse Russia if negotiations fail between the two nations over delivery of two Mistral Warships; Ria Novosti reported today quoting a diplomatic source as saying. "If the boats are not delivered, then I don't see how they could be paid for," Hollande told journalists after meeting with Ukrainian President Petro Poroshenko on Wednesday
A final decision regarding the fate of the two Mistral-class helicopter carriers that France has to deliver to the Russian Navy can be expected by May, Rosoboronexport General Director Anatoly Isaikin said. “Both the nations are continuing an "active negotiation process" over the fate of the two Mistral-class helicopter carriers,” Isaikin was quoted as saying by Ria Novosti on Tuesday
The French Mistral helicopter carrier Vladivostok could be relocated from Saint-Nazaire to Brest Naval base due to high maintenance costs, Local media reported. DCNS and STX shipyard operators are subject to port and maintenance fees of about $2
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