Fincantieri has been awarded a order worth over 200 million of euros, through its subsidiary Wass Submarine System, which deals with the design and development of advanced underwater defense systems. This is the most important order in the 150-year history of the company, which Fincantieri acquired from Leonardo in 2024. The client is Ministry of Defence of the Kingdom ofSaudi Arabia. The supply concerns the MU90 lightweight torpedoes, intended for the Avante 2200 class corvettes, in service with the fleet of the Royal Saudi Naval Force (RSNF), which adds to the contract recently signed with the Indian Navy for heavy torpedoes.
This is the first order signed by Wass directly with the Ministry of Defense of Saudi Arabia, a strategic market for Fincantieri, paving the way for future commercial synergies.
The title a Business Square it is little changed: in the late morning it is quoted at 16,17 euros, up 0,50%.
The contract, says a note from the group led by Pier Roberto Folgiero, “marks a new record in terms of acquisitions after the one recently signed with the Indian Navy”. The announcement was made during the World Defense Show 2026, currently underway in Riyadh, between Wass CEO Andrea Adorni and Ibrahim bin Ahmed al-Suwayed, Deputy Minister of Armaments and Procurement at the Ministry of Defense of the Kingdom of Saudi Arabia. The ceremony was also attended by Khalid Bin Hussien Al-Bayari, Assistant Minister of Defense for Executive Affairs, and the CEO of Fincantieri Folgiero.
Folgiero: the result strengthens our industrial presence in a key market
“This contract represents a milestone of particular relevance for Wass and for the entire Fincantieri group,” said Folgiero. “It confirms the technological excellence and reliability of our underwater systems, as well as our ability to operate as a partner of reference in highly strategic and complex defense programs. This result concretely strengthens the our industrial presence in Saudi Arabia, key market for the Group, and demonstrates the long-term commitment to supporting the development of the Kingdom's future naval capabilities through advanced solutions, industrial cooperation and a structured local presence, with an integrated end-to-end approach."
The work is underway at the Livorno plant. Deliveries are expected between 2029 and 2030.
The program will be managed by the Wass plant in Livorno, a center of excellence in underwater systems, with deliveries expected between2029 and 2030. The MU90 torpedo, A benchmark for the third generation of lightweight torpedoes (LWT), it is already in service with the Italian Navy and over ten international navies. Designed and built with cutting-edge technologies, it is conceived to meet any operational requirement and can be used from a wide range of platforms (surface naval units, fixed-wing and rotary-wing aircraft). In addition to torpedoes, the contract also includes a service package logistical support for the Royal Saudi Naval Force.
