Howaldtswerke-Deutsche Werft (HDW) reached an agreement with the IZAR Spanish group for cooperation in the area of commercial and naval shipbuilding. Both parties stressed that this cooperation is open to further partners. HDW and IZAR appointed a study group in order to investigate possibilities of developing new types of ships, such as technically advanced submarines and ferries, for markets where both groups are not yet represented together.
HDW’s executive chairman Prof. Dr.-Ing. Klaus G. Lederer said: “Both our groups are convinced that this common project can contribute to the integration of the European shipbuilding. I am especially happy about this agreement, since it exactly corresponds to the strategy of HDW. We are going to Europe and by buying Kockums in Sweden, Hellenic Shipyards in Greece and through our cooperation agreement with the Italian shipbuilder Fincantieri, we have already set out the journey with determination. Considering the competition from Far East and the globalization within the naval shipbuilding, this is the suitable answer to the challenges arising from this situation for European shipyards.”