BAESY Bae Systems Plc (PK)

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Name	Symbol	Market	Type
Bae Systems Plc (PK)	USOTC:BAESY	OTCMarkets	Depository Receipt

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Naviris, Eurosam Get $1.65 Billion Contract to Upgrade French, Italian Frigates

31/07/2023 3:13pm

Dow Jones News

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   By Mauro Orru

European joint ventures Naviris and Eurosam have secured a contract worth 1.5 billion euros ($1.65 billion) to upgrade French and Italian warships.

The two joint ventures said Monday that they had won the contract from the Organisation for Joint Armament Cooperation, a European intergovernmental body, to modernize the frigates with a new generation of principal anti-air missile system and long-range radar.

Naviris is an equally split joint venture of Fincantieri and Naval Group. Eurosam is a joint venture of Thales and MBDA, in turn a joint venture of Airbus, BAE Systems and Leonardo.

France and Italy's Horizon warships were originally built between 2000 and 2010.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

July 31, 2023 09:58 ET (13:58 GMT)