Fincantieri forfeits an order worth over half a billion dollars from the USA. The US Department of Defense has announced that the US Navy will exercise the option which assigns to Fincantieri Marinette Marine, the American subsidiary of the Italian group, the construction of the second Constellation-class missile-launching frigate. The value of the work amounts to approx 555 million dollars.
Fincantieri Marinette Marine "is currently working on the detailed design phase of the first unit - reads a note - Production will begin at the end of this year, with delivery of the unit expected in 2026".
The Constellation program was awarded in 2020 to FMM. The contract concerned the construction of the first frigate, but also contained an option for 9 other vessels, as well as the supply of after-sales support services and crew training, for a total value for Fincantieri of approximately 5,5 billion dollars.
Under the program, the US Navy plans to build an additional 10 units, for a total of 20.
At the beginning of the afternoon, Fincantieri's stock gained 1,9%, to 0,6925 euros. On average over the past month, shares have rallied by 4,92%. On the six-month horizon, on the other hand, the recovery is equal to 11,5%.
