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General Dynamics to support Columbia-class submarine development
by Stephen Carlson
Washington DC (UPI) May 22, 2017


Fincantieri to buy majority stake in STX France
Washington DC (UPI) May 22, 2017 - Italian shipbuilder Fincantieri S.p.A. plans to buy a majority stake in French shipbuilder STX France, which is based on the French Atlantic coast.

The deal for the purchase of 66.66 percent of STX France, owned by STX Europe, would involve about $89 million. Fincantieri said the purchase price would be financed through its available financial resources.

"Through this industrial partnership, Fincantieri and STX France will create a global leader in all high-tech shipbuilding industry's sectors," Fincanieeri said in a new release.

The two companies sign the share purchase agreement late last week and Fincantieri is negotiating with the French government for the finalization of the shareholders' agreement.

The transaction is subject to customary regulatory conditions, Fincentieri said.

The financial adviser supporting Fincantieri in the transaction is BNP Paribas.

General Dynamics Electric Boat Corp. has been awarded a $32.7 million contract for design support requirements for the Columbia-class submarine, which is expected to replace Ohio-class submarines in 2021.

The contract includes technological development funding for vendors and shipbuilders, concept design, engineering, affordability studies, and prototype manufacturing and assembly.

The funding will also goes to further research and development and cost-reduction efforts. Most of the work will be completed in Groton, Conn., with smaller contracts spread throughout the country. The work is expected to be completed by June 2017.

Fiscal 2017 shipbuilding and conversion funds of $32.7 million from the Navy has been allocated and will not expire at the end of the fiscal year.

The Columbia-class submarine is slated to replace the current fleet of Ohio-class ballistic missile submarines. Submarine Launched Ballistic Missiles, or SLBMs, form a key part of the nuclear triad.

Operating under the sea and designed for silence that makes them almost impossible to detect by passive sonar, ballistic missile submarines are meant to provide a last ditch nuclear deterrent in the event land and air-based assets are destroyed in a first strike. Their ability to silently approach coastal areas gives them a first-strike capability of their own.

The first of the class, the Columbia, is expected to be completed in 2021. It will field 16 Trident II D5 nuclear ballistic missiles along with a complement of torpedoes.

FLOATING STEEL
French officials probing Brazil submarine deal: report
Paris (AFP) May 20, 2017
French justice officials are investigating if bribes might have helped the country win a huge submarines order from Brazil in 2008, a media report said on Saturday. In October 2016, the National Financial Prosecutor's Office (PNF) opened a preliminary probe into "bribery of foreign public officials" over a contract signed in 2008 during a visit by then French President Nicolas Sarkozy to his ... read more

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