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DSME, Lockheed Martin sign partnership deal in combat ship sector

All News 10:54 April 29, 2016

SEOUL, April 29 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co. (DSME), a South Korean shipyard, said Friday that it has signed a partnership deal with Lockheed Martin to cooperate in their combat shipbuilding business.

The deal is expected to pave the way for DSME and the global defense industry giant to jointly enter new markets by enhancing their competitive edge in building multi-purpose combat ships.

"The partnership is meaningful in that both will be able to supply high-performing ships to our customers, while at the same time expanding our market horizons through cooperation," a company official said.

A vice president of Lockheed Martin was also quoted as saying that the partnership deal will likely provide a foothold for both companies to advance into new markets with high-performing ships armed with better price competitiveness.

The Korean shipbuilder has accumulated expertise in combat ship construction.

It has secured construction deals for a total of 14 combat ships from foreign countries, the largest among local shipyards. In 2011, it also clinched a contract to supply a submarine to a foreign client for the first time.

kokobj@yna.co.kr
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