Business
Contract Win
Contract Win.
About this update from James Fisher And Sons Plc
[{"type":"text","content":"\n Fisher (James) & Sons PLC\n14 March 2007\n\n\nFor release 0910 Wednesday 14 March 2007\n\n\n James Fisher and Sons plc (FSJ.L)\n ('James Fisher')\n\n Contract Win for James Fisher Defence\n\n Submarine Rescue Service for Republic of Singapore Navy\n\n\nJames Fisher Defence Limited ('JFD'), a subsidiary of James Fisher, the UK's\nleading marine services provider ('FSJ'), announces that it has, with its\npartner Singapore Technologies Marine Ltd (ST Marine), been selected jointly to\ndeliver a comprehensive submarine rescue service to the Republic of Singapore\nNavy ('RSN').\n\nUnder the contract, ST Marine and JFD will design, build, operate and maintain a\nfully integrated mother ship and submarine rescue system. JFD will design and\nsupply the complete submarine rescue system including a new rescue submersible,\nhandling systems and a decompression facility and operate and maintain the\nrescue assets throughout the 20-year life of the contract.\n\nThe operating and maintenance contract is estimated to replace the revenue and\nnet earnings from JFD's current contract to operate the UK Submarine Rescue\nsystem, which is expected to come to an end in 2008.\n\nThe new DSAR submarine rescue vehicle is from the same family of designs as the\nvehicle contracted in November 2006 to the Republic of Korea Navy (ROKN) and the\nexisting vehicle operated by JFD as part of the United Kingdom Submarine Rescue\nSystem (UKSRS).\n\nThe contract, which will run until 2029, follows shortly on the announcement of\nthe company's success in Korea and its acquisition of the UK submarine rescue\nservice assets and further demonstrates JFD's increasing presence in the global\nsubmarine rescue market.\n\nCommenting on the contract, Simon Harris, JFD Managing Director, and a director\nof James Fisher, said:\n\n'We are delighted to be working with ST Marine and we are looking forward to\ndelivering an outstanding submarine system and serving the RSN over the 20-year\noperational period. This contract is an ideal way to build on our success in\nKorea and it further extends the global range of our submarine rescue business.'\n\nSaid See Leong Teck, President, ST Marine:\n\n'We are pleased to have JFD as our partner for this long term contractor owned,\ncontractor operated project for the RSN. Given their specialisation in\nsubmarine rescue services an...