Spain’s Navantia reaches rescue deal for struggling UK shipyard Harland & Wolff
Under terms of the buyout, Navantia UK will acquire all four of Harland & Wolff’s yards.
Under terms of the buyout, Navantia UK will acquire all four of Harland & Wolff’s yards.
A total budget of €87 million ($92 million) has been allocated for the project’s first phase, split between €60 ($63 million) in European Commission (EC) grants and €27 million ($28 million) from member states Italy, France, Spain, Denmark, Greece and Norway.
"Construction of all eight frigates is expected to be completed by the mid-2030s, with the first, HMS Glasgow, entering service by the end of 2028," state the UK MoD.
The first of five new corvettes recently arrived at King Faisal Naval Base in Jeddah, upgrading the Saudi fleet's capabilities in the Red Sea.
[UPDATED with Sec. Stackley comments] WASHINGTON: The Navy is seriously considering derivatives of foreign designs and the Coast Guard’s National Security Cutter for its new frigate, after three years pursuing an upgraded version of its current Littoral Combat Ship. The shift has shaken up the industry, panicking some players, while others quietly reposition: Other options got […]