Defense technology company Saronic is investing $300 million to expand a Louisiana shipyard into a major autonomous vessel production hub. The revamped facility at the former Gulf Craft shipyard in Franklin will add over 300,000 square feet of production capacity and create approximately 1,500 jobs.
Desan, a Turkish defense firm, has signed a Joint Venture and Cooperation Agreement to build its first overseas shipyard in Malaysia. The $171 million project will be launched early this year and is expected to become operational in two years.
The U.S. Navy's decision to cancel 16 of 20 planned Constellation-class frigates represents a major setback for Fincantieri Marinette Marine and raises critical questions about the nation's maritime industrial base.