Independent journal on economy and transport policy
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Fincantieri and Finmeccanica in negotiations in order to acquire the control of the Canadian ship yard Davie Yards
The Italian societies to the job with Davie in order to participate to the program of renewal of the Canadian naval fleet
April 1, 2011
Davie Yards, Canadian ship yard in serious economic difficulty that has recently obtained from the Québec Superior Court the faculty to continue until next 19 May the procedures previewed in the within of the Companies' Creditors Arrangement Act and being able therefore to find an agreement with potential investor, has signed an agreement of exclusive right with the Italian navalmeccanico group and American DRS Technologies Canada (DRS), a society specialized in the development of technologies for the field of the defense that takes part of the Italian group Finmeccanica, in order to start negotiations on the aim to verify the possibility to sell the Canadian yard to an entity controlled from Fincantieri.
The president and managing director of Davie Yards, Gustav Nydal, have said that "in the Fincantieri and the DRS, a society Finmeccanica, Davie he has found the investor industrial that he was looking for, that they anticipate a combination between solidity financial institution and technical competence. This - it has added - is an important step in the right direction, but such is still much work to do in order to complete the transaction in a very short time in way that the yard is able to introduce a valid offer for federal contracts". Nydal has specified that Fincantieri and DRS will join immediately to Davie in the predisposition of the proposal in order to become one of the two yards in the within of the National Shipbuilding Procurement Strategy (NSPS), the Canadian governmental program for the renewal of the naval fleet ( on 17 June 2010).
Moreover Davie Yards has announced to have obtained confirmation that the government of the Quebec will supply to the ship yard the resources to finance in order to tackle to the problems of case in the arc of the period of extension of the application of the Companies' Creditors Arrangement Act.
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Davie Yards, Canadian ship yard in serious economic difficulty that has recently obtained from the Québec Superior Court the faculty to continue until next 19 May the procedures previewed in the within of the Companies' Creditors Arrangement Act and being able therefore to find an agreement with potential investor, has signed an agreement of exclusive right with the Italian navalmeccanico group and American DRS Technologies Canada (DRS), a society specialized in the development of technologies for the field of the defense that takes part of the Italian group Finmeccanica, in order to start negotiations on the aim to verify the possibility to sell the Canadian yard to an entity controlled from Fincantieri.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
