Vard Signs MOU with ASFAT

Vard Signs MOU with ASFAT 7 May, 2019

Vard Marine Inc. announced that an MoU has been signed with Military Factory and Shipyard Management Inc. (Askeri Fabrika ve Tersane İşletme A.Ş. /ASFAT) in Turkey to promote a strategic partnership where Vard Marine provides the design of a wide range of paramilitary vessels and ASFAT coordinates construction of select projects at their approved naval shipyards in Turkey.

The MoU provides an opportunity for Vard Marine to expand operations in the region and to collaborate with other companies in both Canada and Turkey.

Vard Marine, with offices in Canada, USA and Vietnam, specialises in the development of advanced technology and its application to offshore, paramilitary and specialised vessel designs and offers ship design, engineering and shipbuilding technology services to the marine community in North America and select international markets.

Vard Marine Inc. is a wholly owned subsidiary of Vard Group AS. VARD, together with its subsidiaries, is one of the major global designers and shipbuilders of specialized vessels.

VARD is headquartered in Alesund, Norway and in turn has Fincantieri S.p.A, one of the world’s largest shipbuilding groups, as its majority shareholder.

ASFAT, within the Ministry of National Defence, Turkey was formed in 2018 in order to manage and utilise the facilities and capabilities of the 27 military factories and 3 naval shipyards to serve the global defense industry benefiting from Turkish national facilities. ASFAT Inc. is authorized to utilize 30 defence industry factories and maintenance & repair centers besides the labor force of more than 27.000 workers.

Issue 86