James Fisher and Sons Regulatory News (FSJ)

2 Nov 2006 07:00

Fisher (James) & Sons PLC02 November 2006 For release 2 November 2006 James Fisher and Sons plc James Fisher Defence Acquires UK Submarine Rescue System James Fisher Defence Limited, who operate the Royal Navy's submarine rescueservice, has signed an agreement with the Government's Defence Sales Agency toacquire the operating assets of the UK submarine rescue service, for anundisclosed amount, in order to provide submarine rescue services to othernations. The company is working closely with the Defence Export ServicesOrganisation to market its submarine rescue services worldwide. James Fisher Defence Limited is a wholly owned subsidiary of James Fisher andSons plc (FSJ.L), the UK's leading provider of marine services. Through itssubsidiary, James Fisher Rumic Ltd, the company currently operates and maintainsthe LR5 manned rescue submersible, the Scorpio ROV and ancillary equipment undera contract to the Royal Navy and has played a key role in the development of theUK's world-leading submarine rescue capability. The team, based in Renfrew, Scotland, was mobilised to the Kursk disaster in2000 and in August 2005 rescued seven Russian submariners trapped in themini-sub Priz at a depth of 625 feet off Russia's far eastern Kamchatkapeninsula. Commenting on the agreement, Roger Chapman, Vice Chairman of James FisherDefence, said: "This marks a significant step in the development and future plans for oursubmarine rescue capability." He added: "I would like to commend the professionalism of our team, which workshand in glove with the Royal Navy and the other naval authorities asdemonstrated in the dramatic rescue last year. The submarine rescue assets areon 24-hour standby to save the lives of crews of stricken submarines. We arepleased that we are now able to offer this service, using one of the only suchsystems in the world, to other nations' navies." -ENDS- Contacts James FisherDefence Simon Harris, Managing Director 01229 615 460 James Fisher & Sons plc Nick Henry, Chief Executive Officer 020 7338 5800www.james-fisher.co.uk James Fisher & Sons plc Michael Shields, Group Finance Director 01229 615 400 Adventis Financial PR Peter Binns 020 7034 4760 Editor's Notes: The UK Submarine Rescue Service The UK Submarine Rescue Service is a 24-hour standby service managed andoperated by James Fisher Rumic. The assets which are being acquired by JamesFisher Rumic consist of the following. 1. The Scorpio 45 remotely operated vehicle2. The LR5 manned rescue submersible3. The DISSUB Depressurisation System (DSDS)4. INTO - Integrated Navigation Tracking Outfit5. TUP - Transfer Under Pressure System6. PHS - Portable Handling System The LR5 is a free-swimming manned submersible capable of rescuing up to 16submariners at a time from a stricken submarine. The original LR5 was built as adiver lock-out submersible for offshore operations and has been progressivelydeveloped for submarine rescue operations. The present vehicle was built byJames Fisher Rumic in two phases and is fully certified for a further 20 years. The Scorpio 45 is a dedicated submarine rescue ROV capable of operating atdepths as low as 3,000 feet and is fitted with specialised manipulators andtoolset. The vehicle's primary role is to assist in locating a distressed submarine(DISSUB), survey the damage, and the transfer the life support stores in specialcontainers via the submarine's escape hatch. The stores necessary to maintain asafe breathable atmosphere for the survivors over the duration of the rescueperiod include oxygen candles, and carbon dioxide absorbent to keep the airbreathable for longer, and medical supplies, if required. James Fisher Defence Ltd James Fisher Defence was established in January 2005, bringing together thedefence sector activities of James Fisher and Sons plc including those of JamesFisher Rumic which was formed in 1984 and was acquired by James Fisher and Sonsin 2002. In recent years the company has increased the scope of its activitiesand is actively marketing submarine rescue hardware and services to overseasnavies globally. Last year, the rescue of the seven Russian submariners drew on the support fromthe RAF, the US Navy and local Russians to fly the team and equipment from itsRenfrew base, transport it to a waiting ship, secure it to the vessel and reachthe offshore location within 36 hours. It took about 5 hours to cut thediscarded fishing nets which had trapped the submersible. This was achieved amidestimates that the Russian submariners had less than 10 hours of air left. James Fisher & Sons James Fisher & Sons plc, the parent company to James Fisher Defence, is aleading provider of marine services with its business divided into thesesectors. The group is a market leader in the provision of technical engineeringsolutions in the marine environment. James Fisher has four divisions: Offshore Oil Services, Marine Oil Services,Specialist Technical Services and Defence. This information is provided by RNS The company news service from the London Stock Exchange