TIDMINFA
RNS Number : 8358N
Infrastrata PLC
26 May 2020
26 May 2020
InfraStrata plc
("InfraStrata" or the "Company")
Teaming Agreement with Navantia
InfraStrata plc (AIM: INFA) is pleased to announce that its
fully owned subsidiary, Harland and Wolff (Belfast) Limited
('Harland & Wolff'), has signed an exclusive Teaming Agreement
(the "Agreement") with Navantia S.A., S.M.E ("Navantia").
Under the terms of this Agreement, both parties will come
together on an exclusive basis to jointly bid for the Fleet Solid
Support Programme ("FSS" or the "FSS Programme"), tender details
for which are likely to be released by the UK Ministry of Defence
("UKMoD") in the forthcoming months.
Key highlights of the Teaming Agreement:
-- The exclusive partnership will operate under the name, Team Resolute.
-- Beyond FSS, Team Resolute will spearhead other opportunities
within the UK defence sector, including modernizations and
retrofits, providing much needed economic growth within the UK
shipbuilding and through-life support sectors.
-- The FSS Programme will likely consist of at least two vessels
based on last year's parameters with the possibility of a third
vessel.
-- The FSS Programme delivery would be shared between members of
Team Resolute with a key focus on British build and British design
adding to the UK's sovereign ship-building capability and creating
significant economic prosperity.
-- Commitment by Navantia to provide technology and know-how
transfer to Harland & Wolff, including upskilling of the
workforce, with Harland & Wolff's employees receiving training
and acquiring new skills in Navantia's shipyards.
-- Navantia's experience in developing a digitally enhanced
shipyard approach, Shipyard 4.0, will be shared with Harland &
Wolff and the downstream UK supply chain, to help improve
efficiency by up to 20%. This is an opportunity for Harland &
Wolff to develop and exploit the use of digital technology to
improve competitiveness, as proposed in the government's UK
National Shipbuilding Strategy.
-- Provision of a reach-back service to draw on Navantia's
decades of experience in design, fabrication, system design and
integration, main engines fabrication, weapons manufacture and
through-life support.
-- Harland & Wolff is the UK's largest shipyard with its
unique ability, across both the defence and wider maritime sectors,
to dock vessels of up to 556 metres in length. Harland &
Wolff's dock, approaching double the length of that of its closest
competitors, sets it apart as a distinctive nationally strategic
asset.
Defence is one of Harland & Wolff's key sectors and this
Agreement will enhance the shipyard's competitive edge,
productivity and value for money, whilst continually developing
other commercial business interests in order to avoid reliance on
defence contracts alone.
John Wood, CEO of InfraStrata commented : "I am very pleased to
have signed this Agreement with Navantia. This partnership has the
capability to disrupt the UK Defence ship-building and through-life
support duopoly that currently exists, as well as providing much
needed competition in the defence sector to ensure optimum value
for taxpayer money and guaranteed delivery."
Abel Méndez, International Defence & Security Director of
Navantia commented : "It is clear that under a new management team,
Harland & Wolff is a shipyard that is forward-thinking, agile
and ready to do business. We are excited about this new
collaboration and the opportunities it will bring for both
partners."
Potential of Team Resolute
Our partnership with Navantia will help create a more level
playing field when competing for upcoming defence contracts.
Harland & Wolff is not solely reliant on defence contracts and
is currently making significant progress within the oil & gas,
cruise & ferry, commercial and renewable sectors.
We have always selected our partners carefully. In Navantia, we
see a long-term partner not only within the defence sector, but
also in the offshore wind farm sector for fixed and floating
foundations, for which we are already in advanced teaming agreement
discussions. These teaming agreements are in relation to a series
of specific projects in UK waters that have already been identified
as commercially viable and that play to the, fabrication, assembly,
lifting capacity and storage space strengths that both partners
carry.
Navantia
Navantia already delivers a wide range of naval and support
ships to governments around the world, including, four different
programmes for the Royal Australian Navy, culminating in 19 ships.
Local partnerships were established to develop and operationalise
an effective Australian supply chain, just as Navantia have also
done for the Norwegian and Turkish naval programmes. In total
Navantia have delivered 40 ships, on time, over the last 5
years.
For further information, please visit www.infrastrataplc.com or
contact:
InfraStrata plc c/o Newgate Communications
John Wood, Chief Executive +44 (0)20 3757 6880
Cenkos Securities plc (Nominated Adviser
& Broker)
Stephen Keys / Cameron MacRitchie (Corporate
Finance)
Michael Johnson (Sales) +44 (0)20 7397 8900
----------------------------
Newgate Communications (PR)
Elisabeth Cowell/ Ian Silvera/Jamie Williams +44 (0)20 3757 6882
----------------------------
Navantia Media Department +34 91 335 85 55
Esther Benito
Email: ebenito@navantia.es
----------------------------
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END
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