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French Government Announced the Nationalization of STX France Naval Shipyard

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Naval Industry News - France, Italy, South Korea
 
 
 
French Government Announced the Nationalization of STX France Naval Shipyard
 
French Economy Minister Bruno Le Maire announced today a temporary nationalization of STX France shipyards in order to "defend the strategic interests of France", after the failure of discussions with Italian shipbuilding group Fincantieri.
     
STX France FincantieriSTX France Saint Nazaire is the only shipyard in France where larger vessels such as aircraft carriers, LHDs, LPDs and replenishment vessels may be constructed and launched.
     
"The Saint-Nazaire shipyards are a unique industrial tool in France, so we wanted to guarantee the employees, but also the Region, customers, subcontractors, all French people, that the exceptional skills of the shipyards in terms of shipbuilding will remain in France," he said.

The future of the Saint Nazaire shipyard is considered as a "strategic" issue by the French government: It is the only shipyard in France where larger vessels such as aircraft carriers, LHDs, LPDs and replenishment vessels may be constructed and launched.

According to the minister, the takeover of STX France "will cost about 80 million euros". This "will buy  us time to negotiate in the best possible conditions", in order "to build a strong and ambitious European industrial project", he continued.

As part of the original plans, Naval Group (formerly DCNS) would have had minority ownership of 12%, with a seat at the board of directors and formal access to the largest dry dock in Europe to build its range of large surface vessel.