(Alliance News) - Fincantieri on Friday announced that the U.S. Department of Defense has awarded Fincantieri's U.S. subsidiary, Marinette Marine (FMM), a contract to build the fourth "Constellation" class frigate, worth about USD526 million, for the U.S. Navy.

The contract for the first frigate and option for 9 additional ships, signed in 2020, has a total value of about USD5.5 billion and includes after-sales support and crew training.

Pierroberto Folgiero - CEO of Fincantieri - commented, "Our commitment is to support the world's largest Navy with a ship that represents the highest possible degree of innovation. We particularly look at the digital profile of the units, in terms of cybersecurity and data analytics, two fundamental fronts for the industrial competition of the future."

Fincantieri closed Thursday's session in the green by 0.4 percent at EUR0.57 per share.

By Maurizio Carta, Alliance News reporter

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