Business
£193m Indian Navy Contract
£193m Indian Navy Contract.
About this update from James Fisher And Sons Plc
[{"type":"text","content":"\n \nRNS Number : 0730T Fisher (James) & Sons plc 23 March 2016 \n\n \n \n23 March 2016\n \n \nJames Fisher and Sons plc \n \nJames Fisher signs £193m Submarine Rescue Service contract with Indian Navy\n \nJames Fisher and Sons plc (FSJ.L) (\"JFS\") today announces that its subsidiary JFD Limited has been awarded a £193m contract by the Indian Navy for the long-term provision of its submarine escape and rescue capability. The contract entails the design and production of two complete submarine rescue systems for £83m by December 2018 and will be assembled and produced at JFD's Inchinnan facility, near Glasgow, UK. A 25 year in-service support contract covering all aspects of the operation and maintenance of the system will commence when the vessels are put into service in India.\n \nTwo complete submarine rescue systems will be delivered to the Indian Navy including Deep Search and Rescue Vehicles (DSRV), Launch and Recovery Systems (LARS) equipment, Transfer Under Pressure (TUP) systems and all logistics and support equipment required to operate the service. \n \nNick Henry, Chief Executive Officer of JFS, said:\n \n\"As the global leader in submarine rescue services, James Fisher has been awarded the contract by demonstrating, through its work with the Royal Navy, the Australian Navy and the Singapore Navy, a commitment to the safety of the global submarine community over many years. We look forward to working with the Indian Navy at the start of this long term relationship.\" \n \nContacts:\n \n\n\n\n\nJames Fisher and Sons plc\n\n\nNick Henry\n\n\nChief Executive Officer\n\n\n020 7614 9508\n\n\n\n\nFTI Consulting\n\n\nRichard Mountain\nSusanne Yule\n\n\n\n\n\n \n0203 727 1374\n\n\n\n\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END CNTJJMTTMBITBRF\n ","length":3925,"tagName":"div"}]