BELFAST \u2014 Two of Europe\u2019s leading shipbuilders have formally agreed to collaborate on naval projects that could lead see a submarine produced by German firm ThyssenKrupp Marine Systems (TKMS) at a Navantia shipyard in Spain.<\/p>\n
The plan falls under a Memorandum of Understanding (MoU), signed by both manufacturers on Wednesday and comes as Europe\u2019s maritime industry faces strain and uncertainty.\u00a0<\/p>\n
\u201cGeopolitical developments in recent years have significantly increased demand for modern naval products,\u201d said Navantia in a statement<\/a>. \u201cAt the same time, there are considerable bottlenecks in shipyard capacity and technological resources across Europe.\u201d<\/p>\n Faced with these issues, the two companies \u201cintend to explore how closer industrial cooperation can help implement projects more efficiently, quickly, and cost-effectively,\u201d according to Navantia.<\/p>\n The company noted that each side has agreed to launch \u201cmanagement level\u201d talks that are built on mutual trust and in \u201cfull compliance\u201d with competition and export control regulations.<\/p>\n It remains unclear how new submarine business would be prioritized as the two shipbuilders have separate products to consider. TKMS is under contract to produce Type 212CD subs for Germany and Norway<\/a>, with Navantia concentrating on an order for four Spanish S-80 class<\/a> boats.<\/p>\n Last year, the Type 212CD was also selected as one of two rival \u201cqualified suppliers<\/a>\u201d for the Canadian Patrol Submarine Project, alongside South Korean Hanwha Ocean\u2019s KSS-III design. Ottawa decided against an S-80 proposal.<\/p>\n More broadly, the TKMS surface combatant range includes Class 123, 124, 125 frigates, Class 130 corvettes and MEKO vessels.<\/p>\n