Alcatel & LDA form joint compagny
Alcatel and the French shipping Company Louis Dreyfus Armateurs (LDA) are forming a joint-venture dedicated to the ownership and the management of two cable laying ships ordered from Hyundai Mypo Dockyard. The new company will be owned 51% by Alcatel and 49% by LDA. These two ships will be operational by October 2001. In addition, options for two other vessels, for a total investment of over US$ 90 Million, have been negotiated with the same Korean shipbuilder for delivery February 2002.
Alcatel's strong commitment to this joint venture and to ship purchasing will ensure the Group's optimal management of its overall marine activities. These two key issues is the guarantee that Alcatel's customers will be provided, on a world-wide level, with the highest quality fleet, ensuring the delivery of their projects on time always serviced by a highly qualified crew and dedicated on-board technicians for submarine cable installation and maintenance.
The
joint venture will be responsible for the ownership and operations of the fleet,
providing the entire vessel crew and also the skilled specialists responsible
for the cable installation. The joint-venture brings together two leaders in
their respective fields. Alcatel, is the world leader in submarine networks,
including cable-laying activities. LDA, has also prove capability for both marine
management and cable installation, and has successfully worked with Alcatel
in the past. Within the framework of this agreement, LDA will follow the construction
of the cableships, handle the sea-trials and the entire provision of services
and maintenance of the fleet, ensuring the full service of the ships and their
crews, cable installers and dedicated equipment.
All four vessels will be built according the same specifications, each of them being over 135 meters long, and being equipped with state-of-the-art dynamic positioning capability, allowing them to hold position in the most adverse weather conditions. They will be delivered with an integrated cable handling suite, new-build plough and full jointing and testing facilities, offering the best seaworthiness and a high capacity for maneuverability for burial operations.
"We
are proud and delighted to have implemented this joint company with Alcatel,
which will strengthen our already very good relationship with this group" commented
Philippe Louis-Dreyfus, Chairman and CEO of LDA, "allowing us to consolidate
our know-how, both in marine management and cable installation. These two combined
fields of activity require the high level of qualification which our teams have
already proved to have".
"This joint venture further consolidates our ability to provide cable laying
vessels anywhere in the world, ensuring our customers the delivery of their
networks, with the highest level of service and a competitive price. We have
chosen LDA as our partner since they have proved their skills in terms of marine
management", stated Jean Godeluck, COO of Alcatel's submarine networks activities.
The joint
company, which is currently being set up, will be located in France and will
have the French status of "Société Anonyme". Alcatel will ensure the commercial
management of the ships while LDA will be responsible for the marine management.
Alcatel will ensure the charter on a long-term basis. The joint venture will
initially employ approximately thirty people.
