Future of Greek shipyard secured

The contracts form the basis for the transfer of a 75.1% interest in the Greek shipyard of Hellenic Shipyards to the Abu Dhabi MAR group, acceptance of the submarines built to date and the purchase of two further class 214 submarines as part of the existing Neptune II program (instead of the modernization of two class 209 submarines).

This ends the dispute with the Greek government over acceptance of the

HS Papanikolis

class 214 submarine which has been running since 2006. The Greek government has accepted the submarine, which has been proven to meet and in part significantly exceed all specified performance requirements. This was confirmed by the Federal Office of Defence Technology and Procurement back in October 2008.