Fincantieri, Finmeccanica Sign Naval Vessels MoU

Fincantieri and Finmeccanica signed a memorandum of understanding for naval vessels sector during the launching ceremony of Fincantieri’s “Pietro Venuti” submarine, the companies said in a joint statement Thursday.

The submarine is the third unit of the four U212A “Todaro” class twin units ordered by the Central Unit for Naval Armament NAVARM for the Italian Navy.

The agreement for naval vessels sector was signed aiming at increasing competitiveness on national and international markets. The collaboration will develop taking advantage of the technical and commercial synergies between the Naval Vessels Business Unit in Fincantieri and Finmeccanica Group companies, benefitting from their knowledge in combat naval systems, electronics and surface and underwater warfare systems, the statement said.

This agreement also envisages collaboration on research and innovation activities, to maximize market positioning and to rationalize investments, even through the promotion of joint studies in the common sectors.

Fincantieri’s Chief Executive Officer Giuseppe Bono commented, “This agreement deals with the promotion by the product “ship” to all components fitted on board: we aim at defining a truly integrated industrial system, based on a business volume of over 1.5 billion euro per year and thus similar in size to the main international competitors.”