Page 11: of Maritime Reporter Magazine (April 2005)

The new Spanish military shipbuilder,

Navantia, has been unveiled by Pedro

Solbes, the Spanish government's sec- ond vice-prime minister and economics minister, along with Enrique Martínez

Robles, the Chairman of the state hold- ing company Sociedad Estatal de

Participaciones Industriales (SEPI), and the Chairman of the new company, Juan

Pedro Gómez Jaén. The company, spe- cializing in the design, construction and integration of military ships, is owned by SEPI and is the result of the desegre- gation of Izar's military activities in line with the agreement reached in order to make publicly-owned shipyards viable.

Navantia's activities include naval construction, propulsion and energy, ship repairs, military and civil platform control systems as well as weapons. It is expected that up to 20 percent of the company's entire activity will be devot- ed to civil applications. The new compa- ny directly inherits more than 250 years' experience in the construction, mainte- nance and conversion of the Spanish

Navy's ships. Over the last three decades this has meant very close collaboration in the progressive and tough processes involved in strengthening the Spanish fleet.

In the year 2004 Navantia's integrated production centers enjoyed a turnover of approximately 1.1 billion Euros. These production facilities are staffed by a workforce of approximately 5,562 based on the Ferrol Estuary (Ferrol and Fene), the Bay of Cadiz (Cadiz, Puerto Real and San Fernando) and Cartagena, with the headquarters being situated in

Madrid.

Navantia is also developing a policy of collaboration with other domestic and foreign companies through strategic product alliances for the design and sale of projects and is actively participating in innovation using internationally recognised technologies. The company currently forms part of the Afcon

Consortium alongside U.S. companies such as Bath Irons, the US Navy's main shipbuilder, and Lockheed Martin, world leader in the design and develop- ment of combat systems. A consortium has also been formed with the French company DCN to develop the Scorpene submarines.

April 2005 11

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News

Spain Introduces New Military Shipbuilder

Color Line, Aker Yards

Sign for Cruise Ship

Color Line AS and Aker Yards signed a let- ter of intent (LOI) for the order of a second ship, a sister vessel to M/S Color Fantasy, the world's largest cruise ship with car decks delivered from Aker Finnyards in

December 2004. The contract value is at the same level as for M/S Color Fantasy, approximately 300 million Euro. The agree- ment is subject to certain conditions, includ- ing Color Line and Aker Yards board approval. The contract is anticipated to be made effective within the second quarter of 2005. "We are extremely pleased to contin- ue our strong relationship with Color Line by building this sister vessel to M/S Color

Fantasy." says Yrjö Julin, President of Aker

Finnyards.

The new ship is scheduled to be delivered last quarter of 2007.

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