Greece oders extra 214 Sub!!

Important Order For Millions Of Euros For HDW From Greece

(Source : HDW ; issued June 3, 2002)

Contracts for building another new Class 214 submarine and for the modernization of three Class 209 submarines were signed in Athens at the weekend between Howaldtswerke-Deutsche Werft AG (HDW), Kiel, together with its consortium partner Ferrostaal AG, Essen, and the Hellenic Navy.

The order amounts in total to some 700 million Euro.

The building and modernization work will take place at the HDW subsidiary Hellenic Shipyards in Skaramanga near Athens.

HDW had already received an order from the Hellenic Navy for three Class 214 submarines, equipped with an air-independent fuel cell propulsion system. The first boat is under construction at the HDW shipyard in Kiel. The other boats will be built at Hellenic Shipyards.

The Class 209 submarines are boats built and delivered to the Hellenic Navy by HDW in the 1980s. These boats will be modernized at Hellenic Shipyards and will also be equipped with a fuel cell propulsion system.

This contract raises the order books of the HDW Group from 5,200 million Euro to 5,900 million Euro.

The contract also foresees an important program of offset work, whereby Greek industry will receive orders through Ferrostaal and HDW corresponding to approximately the same amount as the submarine order. This represents an important source of income for the Greek industry concerned.