Fincantieri Marinette Marine has been shortlisted with five other companies. Each of them will develop the conceptual design within August 2021. The contract includes an option for an additional study phase to develop detailed engineering work that, if exercised, would extend the duration to May 2022.
The award process will follow the scheme of the tender for the 10 first-in-class guided-missile FFG(X) frigates of the US Navy, awarded to Fincantieri Marinette Marine four months ago, collectively worth $5.5 billion.
With this success, Fincantieri reaps the rewards of a long-lasting commitment started 12 years ago with the acquisition of the shipyards in the US. In the meantime, the facilities have been modernized and improved in efficiency so much that today they are undoubtedly acknowledged as an excellence in shipbuilding.
In addition to the recent milestone of the FFG(X) frigates, the Group is currently developing the Littoral Combat Ships program for the US Navy, envisaging the construction of 16 vessels (10 of which already delivered). The US subsidiary is also involved in the construction of 4 Multi-Mission Surface Combatants (MMSC) for the Kingdom of Saudi Arabia as part of the US Foreign Military Sales program.
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, including the U.S. Coast Guard.
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 2 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 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 defense 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.
Fincantieri Marine Group is the American subsidiary of Fincantieri, and operates three Great Lakes shipyards: Fincantieri Marinette Marine, Fincantieri Bay Shipbuilding, and Fincantieri ACE Marine. Fincantieri Marine Group’s more than 2,100 steelworkers, craftsman, engineers and technician specialize in the design, construction and maintenance of merchant ships and government vessels, including for the U.S. Navy and Coast Guard.
