£30m Submarine Rescue System contract

RNS Announcement

RNS Number : 8987K

Fisher (James) & Sons plc

19 December 2018

James Fisher and Sons plc

James Fisher signs £30m Submarine Rescue System contract

James Fisher and Sons plc (FSJ.L) ("JFS") today announces that its subsidiary JFD has been awarded a £30m contract by Daewoo Shipbuilding & Marine Engineering (DSME). The contract is for the design, construction and delivery of a 3^rd generation deep search and rescue vehicle for the Korean navy, together with training and in-service support. The vehicle will be delivered in 2021.

Nick Henry, Chief Executive Officer of JFS, said:

"JFD delivered the first deep search and rescue system to the Korean navy in 2009 and this additional capability further demonstrates our position of market leadership in the submarine rescue market. The vehicle is a variation of the two 3^rd generation vehicles recently delivered to the Indian navy."

Contacts:

James Fisher and Sons plc

Nick Henry

Chief Executive Officer

020 7614 9508

FTI Consulting

Richard Mountain

Susanne Yule

0203 727 1374

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RNS metadata

Title: £30m Submarine Rescue System contract
Time: 07:00:02
Date: 19 Dec 2018
Category: Acquisitions and alliances
ID: 8987K