PIRIOU, DCNS Establish KERSHIP (France)

PIRIOU and DCNS announced the establishment of KERSHIP, a joint company for building ships to civil standards intended for implementation of State action at sea.

This project forms part of the respective growth strategies of the two stakeholders, broadening their access to markets.

Held jointly by PIRIOU (55%) and DCNS (45%) , KERSHIP is a société anonyme par actions simplifiées (simplified public limited company) with a supervisory board and equal representation of the two partners.

The company is headed by Patrick de Leffe, previously Audit and Risks VP of DCNS , and before that engineering VP of the DCNS group from 1999 to 2008. KERSHIP’s head office is located in Concarneau (Brittany).

The new company conducts its business in the French and international markets . KERSHIP has adopted a lean structure for preparing proposals, coordinating contract execution and providing industrial program management services.

PIRIOU and DCNS each retain control of their own industrial, logistic and engineering resources, which KERSHIP will call upon.

Patrick de Leffe declared: “The ambition of PIRIOU and DCNS is to develop a world leader in ships built to civil standards intended mainly for State action at sea (coastguard, policing, customs, etc. ), making use of their complementing industrial capabilities. KERSHIP benefits from DCNS experience in naval defence markets and that of PIRIOU in vessels built to civil standards.”

Pierre Legros, DCNS Surface Naval Systems SVP, explained: “The establishment of KERSHIP is going to enable us to offer an attractive product range in the growth market of lightly – armed vessel s built to civil standards. The sale of these ships intended for State action at sea will enable DCNS to develop relations with new customers likely to subsequently acquire more heavily – armed vessels, such as corvettes or frigates. KERSHIP thus provides a double growth opportunity for DCNS.”

PIROU CEO Pascal Piriou stressed: “We take great pride in allying ourselves with one of the very best in the defence sector worldwide. Placing our respective resources at the disposal of KERSHIP is going to enable us to gain a foothold in the market for State action at sea capability, highly complementary to our other activities, where our experience of civil standards, our facilities in other countries and, I believe, our dynamism, make PIRIOU the right partner for DCNS.”

PIRIOU and DCNS profit from successful joint experience in the construction of the self – funded Gowind OPV L’Adroit by DCNS in 2010 – 2011.

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Press Release, May 16, 2013