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    FCT   IT0001415246

FINCANTIERI S.P.A.

(FCT)
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Fincantieri S p A : to build the second Constellation-class frigate for the US Navy

05/21/2021 | 01:44am EDT

FINCANTIERI TO BUILD THE SECOND CONSTELLATION-CLASS FRIGATE FOR THE US NAVY

The order comes only one year after the award for the first vessel

Trieste, May 21 2021 - The U.S. Department of Defense announced that the Navy is exercising a approx. 555 million dollars option to have Fincantieri U.S. subsidiary, Marinette Marine (FMM) build the second Constellation-classguided-missile frigate.

FMM is currently working on the detailed design phase of building the first-in-class USS Constellation. Construction is planned to start at the end of this year with the frigate expected to be delivered in 2026.

The "Constellation" program was awarded to FMM in 2020, through a contract for the first-in-class frigate and the options for further 9 ships, as well as post-delivery availability support and crew training, with a cumulative value for Fincantieri amounting to 5.5 billion dollars. The U.S. Navy plans to build 10 additional vessels as part of the program, for a total of 20.

Fincantieri succeeded in such a high-profile tender, distinguishing itself among several major U.S. shipyards thanks to a project considered as the most advanced and cutting-edge. The Group's proposal is based on the FREMM frigate platform, globally recognized as the most technologically advanced, and the backbone of a 10-unit program for the Italian Navy which Fincantieri is currently completing.

FMM is the spearhead of Fincantieri Marine Group (FMG), which controls two other shipyards also located in the Great Lakes (Wisconsin) - Fincantieri Bay Shipbuilding and Fincantieri Ace Marine. The company serves commercial and government customers in the US, including the U.S. Navy and the U.S. Coast Guard. In addition to the Littoral Combat Ships program, FMM is building 4 Multi- Mission Surface Combatants (MMSC) to be delivered to the Kingdom of Saudi Arabia as part of the US Foreign Military Sales program.

* * *

Fincantieri is one of the world's largest shipbuilding groups, the only one active in all high-tech marine industry sectors. It is leader in the construction and transformation of cruise, naval and oil & gas and wind offshore vessels, as well as in the production of systems and component equipment, after-sales services and marine interiors solutions. Thanks to the expertise developed in the management of complex projects, the Group boasts first-class references in infrastructures, and is a reference player in digital technologies and cybersecurity, electronics and advanced systems.

With over 230 years of history and more than 7,000 ships built, Fincantieri maintains its know-how, expertise and management centres in Italy, here employing 10,000 workers and creating around 90,000 jobs, which double worldwide thanks to a production network of 18 shipyards operating in four continents and with over 20,000 employees.

www.fincantieri.com

FINCANTIERI

Press Office

Investor Relations

Tel. +39 040 3192473

Tel. +39 040 3192111

press.office@fincantieri.it

investor.relations@fincantieri.it

1

Disclaimer

Fincantieri S.p.A. published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2021 05:44:00 UTC.


© Publicnow 2021
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Sales 2021 6 702 M 7 887 M 7 887 M
Net income 2021 50,8 M 59,7 M 59,7 M
Net Debt 2021 1 001 M 1 178 M 1 178 M
P/E ratio 2021 20,9x
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