ST Marine signs MOU

The MOU between ST Marine and DCNS sets down the target date and other various activities leading to the execution of a joint venture agreement to provide an agreed scope of support to be contracted for the Republic of Singapore Navy's (RSN) six frigates. The other MOU is between ST Marine and Kockums AB, where a joint venture company is also in the works to be set up to offer a comprehensive suite of technical and maintenance support for RSN' s submarines. The joint venture companies are expected to be formed when due diligence have been completed and contracts secured.