The company was bought in 2002 by a group of German investors under the industrial leadership of the German shipyard Howaldtswerke-Deutsche Werft (HDW), later a subsidiary of the German ThyssenKrupp Marine Systems.
Six ships were built at Hellenic Shipyards (first launching in 1979), but Kostakos (P 25) sunk after collision with a ferry in November 1996.
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