Navantia shipyards. (Photo: Navantia)

Navantia sets up a subsidiary in Brazil

BRAZIL
Wednesday, January 28, 2015, 00:30 (GMT + 9)

The Spanish government authorized Navantia to establish a subsidiary in Brazil, in order to adapt to the defence law of the South American country and participate in major contracts for fleet renewal planned for the coming years.

In particular, the Cabinet authorized the State Industrial Holding Company (SEPI) to set up in Brazil, through Navantia, a limited liability subsidiary called Navantia Brasil Projetos Navais LTDA, owned 90 per cent by Navantia and 10 per cent by Navantia Australia.

According to the law of defence strategic contracts in Brazil, Navantia Brazil will be a Brazilian company articulating Navantia’s participation in the country’s industry, so that the products offered to the Ministry of Defence of Brazil have a high percentage of local manufacturing.

The Government of Spain explained Navantia began to prepare its presence in Brazil two years ago. During this time, it has consolidated an entire network of industrial partnerships and has bid in all defence area tenders in the country.

"With the creation of Navantia Brazil a further commitment towards industrial cooperation in defence is consolidated, consistent with the high interest of Spain in that country, and helps to strengthen the strong ties that exist between the two countries," it emphasized.

Brazil is the first destination of Spanish investment abroad, with EUR 66,000 million annually.

"Navantia Brazil has joined Navantia Australia as a further step in the internationalization policy of the company, which aims to increase its turnover and work in Spain through its participation in projects developed in third countries," said the Government.

Navantia is a Spanish public company that belongs to SEPI, which controls 100 per cent of its capital.

Currently, Navantia is considered an international benchmark as a designer and builder of technologically leading military vessels, as a system administrator and as a company that transfers technology for shipbuilding in other countries.

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