Pipavav Defence in talks with French company for strategic partnership

18 Apr 2013

Pipavav Defence and Offshore Engineering Company (PDOECL) is in final talks with a French company - DCNS, a world renowned warship and submarine builder, for a strategic partnership. With this deal company plans to sell some stake to the French defence major and will bring in its technologies, methods and skills. PDOECL will sale its stake through issuing new equity to DCNS, thereby diluting the present share capital of Pipavav. The entity had forged a similar strategic partnership with Swedish defence major SAAB last year and had announced to allot about 3.5% stake to SAAB.

Pipavav Defence and Offshore Engineering Company is engaged in defence, offshore, marine and engineering sectors. The company has two units, one special economic zone (SEZ) unit spread over around 95 hectares of land and another export oriented unit (EOU) spread over around 103.92 hectares of land.

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