One more success for LAMDA Development GroupDynamic entry of Hephestus Hellas Shipyards in programs of the Greek Navy
Wednesday, November 20th 2002
PRESS RELEASE
One more success for LAMDA Development Group
Dynamic entry of Hephestus Hellas Shipyards in programs of the Greek Navy
Hephestus Hellas Shipyards , (HHS) subsidiary of LAMDA Development, announces its cooperation with the Ministry of National Defense and the signing of an agreement with Defense Investments Directorate General for the implementation of a program for the activation of Speed Patrol Ships Tournas and Sakepes. The project was assigned to HHS after a tender conducted by the Ministry of National Defense.
The new agreement that was signed regards the implementation of the basic works for the activation of the aforementioned ships whose cost amounts to 4.4 million. The schedule of works is expected to be completed for both ships in 18 months from the agreements validity date; afterwards they will be delivered to the Greek Navy.
According to the statements of HHSs CEO, Mr. Marios Stergiou,
The signing of the contract agreement seals the first partnership between Hephestus Hellas Shipyards and the Greek Navy. This signals, the dynamic entry of our company in the sector of defense industry and underlines its growing course in the Shipping industry.
Hephestus Hellas Shipyards already participates in a tender announced by the Ministry of Public Order for the construction of fire-extinguishing ships.
HEPHESTUS HELLAS SHIPYARDS S.A., is a modern ship-repairing unit that acts in the provision of specialized, complete services of maintenance, repair, and re-construction of big sized ships like mega yachts, commercial ships and any other kind of navigable vessels. The company owns coastal property with port facilities of significant value, infrastructure and equipment.
The ship-repairing unit presents in the nine months of 2002 (until 30.9.2002) a turnover of 19.253 million (6.560 billion drachmas), increased by 93% in comparison to 2001, due to the significant projects of modernization and re-construction of yachts in 2002.
Hephestus Hellas Shipyards is a subsidiary of LAMDA Development, which supported by the international experience of Latsis Group, invests in the development of domestic infrastructures in land, air and sea establishing in this way new markets and initiating a new era of operational growth.
To Editors:
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