Fincantieri

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FCT

IT0001415246

Market Closed - Borsa Italiana Other stock markets 16:44:59 14/06/2024 BST			5-day change	1st Jan Change
0.517 ^EUR	-2.82%		-10.71%	-7.35%

06-14	Carlyle, KfW join forces in effort to buy Thyssenkrupp warship division, sources say	RE
06-13	Europeans down sharply, weigh political tensions	AN

Fincantieri, subsidiary awarded contract by U.S. Navy

May 24, 2024 at 02:30 pm

(Alliance News) - Fincantieri Spa announced Friday that the U.S. Department of Defense has awarded the U.S. subsidiary, Fincantieri Marinette Marine, a contract worth more than EUR1.00 billion to build the fifth and sixth "Constellation" class frigates for the U.S. Navy.

The contract for the first frigate and option for nine additional ships, signed in 2020, has a total value of about EUR5.5 billion and includes after-sales support and crew training.

In this tender, Fincantieri "managed to stand out over its U.S. competitors thanks to a project judged to be the most advanced and innovative," the company's note says.

Construction of the first frigate, the future USS Constellation, is currently underway at the shipyard in Marinette, Winsconsin, which has recently undergone a major investment program for infrastructure improvements and upgrades.

Fincantieri's stock trades in the green by 0.5 percent at EUR0.61 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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Latest news about Fincantieri

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Company Profile

Fincantieri SpA is an Italy-based company engaged in the industry sector. The Company is active in the shipbuilding constructions. The Companyâs activities are divided into four business divisions. The Shipbuilding division produces cruise ships, ferries, naval vessels and mega yachts, as well as offers ship repair, conversion, refitting and refurbishment. The Offshore division focuses on the design and construction of support vessels for the oil and gas exploration and production market. The Equipment, Systems and Service division is engaged in the design and manufacture of systems and apparatus, and the provision of after sales service. The Other division provides costs for directing, controlling and coordinating the business. Fincantieri SpA is active in the domestic market, as well as in the United States, Brazil, Norway, Romania and India, among others. It operates through Vard Promar.

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