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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Fincantieri S.p.A.    FCT   IT0001415246

FINCANTIERI S.P.A.

(FCT)
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FINCANTIERI: VARD SECURES CONTRACT FOR EIGHT MARINE ROBOTIC VESSELS

11/23/2020 | 06:51am EST

FINCANTIERI: VARD SECURES CONTRACT FOR EIGHT MARINE ROBOTIC VESSELS

Trieste, November 23, 2020 - Fincantieri subsidiary VARD has signed a contract for the design and construction of eight robotic vessels for maritime operations worldwide for Ocean Infinity.

In partnership with the client, VARD has developed the VARD 9 60 design, a cutting-edge multi- purpose platform, allowing onshore remote control, and light crewed or uncrewed operations. With a length of 78 meters, the vessels will feature next-generation technologies to reduce environmental impact, such as fuel cells, being among the first of their kind to be prepared for a green ammonia fuel system.

The subsidiary Vard Electro has further developed its well proven SeaQ Integrated Automation System and SeaQ Power Management System together with the class society to allow for safe remote operations, and cyber-secure communications.

The contract marks the entrance of VARD in a new segment thanks to its renowned expertise in engineering and construction of leading-edge and eco-friendly units.

A broad range of suppliers and contractors in the Norwegian Maritime Cluster will be involved in the project, creating a positive spin-off effect in the region.

The eight vessels will be built at VARD's shipyard Vard Vung Tau in Vietnam, to be delivered from mid-2022 to 2023.

"We are honored to be chosen as Ocean Infinity's partner in this project. Together we take a huge leap forward into a new segment of the maritime industry by developing and providing vessels prepared for the future, according to our strategy researching increasingly innovative and sustainable solutions" says Alberto Maestrini, CEO in VARD.

Ocean Infinity is a marine robotics company that deploys autonomous robots, typically in fleet formation. Using the power of technology Ocean Infinity's mission is to thrive by delivering outstanding value for clients across all markets through finding the safest, most environmentally responsible, and highest value ways of operating at sea.

The series of eight vessels will expand Ocean Infinity's newly launched Armada fleet, comprising the latest in technology and marine robotics including autonomous underwater vehicles and remotely operated surface vessels. The new vessels are especially developed to serve as multi-role-vessels and will support Ocean Infinity's operations worldwide from its control centers.

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Fincantieri is one of the world's largest shipbuilding groups and number one for diversification and innovation. It is leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega yachts, as well as in ship repairs and conversions, production of systems and mechanical and electrical component equipment, cruise ship interiors solutions, electronic systems and software, infrastructures and maritime constructions as well as after-sales services. With over 230 years of history and more than 7,000 vessels built, Fincantieri has always kept its management offices, as well as all its distinctive engineering and production skills, in Italy. With over 9,500 employees and a supplier network that employs nearly 50,000 people in Italy alone, Fincantieri has enhanced a fragmented production capacity over several shipyards into a strength, acquiring the widest portfolio of clients and products in the cruise business. To hold its own in relation to competition and assert itself at global level, Fincantieri has broadened its product portfolio becoming world leader in the sectors in which it operates.

The Group now has 18 shipyards operating in four continents, nearly 20,000 employees, and is the leading Western shipbuilder; its clients include the world's biggest cruise operators and the Italian and the US Navy as well as numerous foreign navies. Fincantieri is also a partner of some of the main European defence companies within supranational programs.

Fincantieri's business is widely diversified by end markets, geographical exposure and by client base, with revenue generated from cruise ship, naval vessel, Offshore and Specialized Vessel construction and from the supply of solutions for electronic systems and software and for maritime infrastructure and works. Compared with less diversified players, such diversification allows it to mitigate the effects of any fluctuations in demand on the end markets served.

www.fincantieri.com

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FINCANTIERI S.p.A. - Media Relations

Antonio Autorino

Laura Calzolari

Cristiano Musella

Micaela Longo

Tel. +39 040 3192473

Tel. +39 040 3192527

Tel. +39 040 3192225

Tel. +39 040 3192247

Mob. +39 335 7859027

Mob. +39 334 6587922

Mob. +39 366 9254543

Mob. +39 366 6856280

antonio.autorino@fincantieri.it

laura.calzolari@fincantieri.it

cristiano.musella@fincantieri.it

micaela.longo@fincantieri.it

Emanuele Macaluso

Tel. +39 040 3192667

Mob. +39 344 2737019

emanuele.macaluso@fincantieri.it

FINCANTIERI S.p.A. - Investor Relations

Caterina Venier Romano

Valentina Fantigrossi

Tel. +39 040 3192229

Tel. +39 040 3192243

caterina.venierromano@fincantieri.it

valentina.fantigrossi@fincantieri.it

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Disclaimer

Fincantieri S.p.A. published this content on 23 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2020 11:50:00 UTC


© Publicnow 2020
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Sales 2020 5 230 M 6 332 M 6 332 M
Net income 2020 -184 M -222 M -222 M
Net Debt 2020 1 508 M 1 825 M 1 825 M
P/E ratio 2020 -5,19x
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Average target price 0,57 €
Last Close Price 0,55 €
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Giuseppe Bono Chief Executive Officer & Director
Giampiero Massolo Chairman
Massimiliano Cesare Independent Non-Executive Director
Paola Muratorio Secretary & Independent Director
Fabrizio Palermo Director