StockMarketWire.com - James Fisher and Sons' subsidiary JFD was awarded a £30m contract by Daewoo Shipbuilding & Marine Engineering to construct and deliver a third generation deep search and rescue vehicle for the Korean navy, together with training and in-service support.

The vehicle was expected to be delivered in 2021, the company said.

'JFD delivered the first deep search and rescue system to the Korean navy in 2009 and this additional capability further demonstrates our position of market leadership in the submarine rescue market. The vehicle is a variation of the two 3rd generation vehicles recently delivered to the Indian navy, said Nick Henry, Chief Executive Officer of JFS.




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