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Story summary
- Naval Group is preparing a bid to build frigates for Denmark, competing with Babcock.
- European customers now account for 20-25% of its €4.7 billion annual turnover, up from zero in 2019.
- The firm lost Norway’s frigate contract to BAE Systems after building two Defence and Intervention Frigates per year in Lorient.
- Naval Group partners with Greece’s Salamis shipyard and Sweden’s Saab to integrate local equipment on its vessels.