Fincantieri Marinette Marine Secures $1 Billion Contract for US Navy Frigates

Fincantieri Marinette Marine Secures $1 Billion Contract for US Navy Frigates

(IN BRIEF) The Department of Defense has awarded Fincantieri Marinette Marine (FMM) a significant contract exceeding 1 billion US dollars to construct the fifth and sixth Constellation-class frigates for the US Navy. This contract, part of a larger agreement signed in 2020 worth 5.5 billion US dollars, underscores Fincantieri’s success in securing high-profile tenders amidst competition from major U.S. shipyards. Leveraging the innovative FREMM frigate platform, FMM’s proposal stood out for its technological advancement, currently being applied to the construction of the lead frigate, the future USS Constellation, at FMM’s Wisconsin shipyard. FMM, a key player within Fincantieri Marine Group (FMG), remains dedicated to fulfilling commitments to various naval programs, including the Littoral Combat Ships program for the US Navy and the Multi-Mission Surface Combatants (MMSC) program for the Kingdom of Saudi Arabia under the US Foreign Military Sales plan.

(PRESS RELEASE) TRIESTE, 25-May-2024 — /EuropaWire/ — The Department of Defense announces that Fincantieri’s US subsidiary, Fincantieri Marinette Marine (FMM), has been awarded a contract worth over 1 billion US dollars to build the fifth and sixth Constellation-class frigates for the US Navy.

The contract for the lead frigate and 9 options, signed in 2020, has a cumulative value of 5.5 billion US dollars, including post-delivery availability support and crew training.

Fincantieri secured this high-profile tender, distinguishing itself among several major U.S. shipyards thanks to a project considered as the most innovative 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 completing at present at its Italian shipyards.

Construction on the first frigate, the future USS Constellation, is currently ongoing at the newly revamped Wisconsin shipyard in Marinette.

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. FMM is committed to the Littoral Combat Ships program for the US Navy and the Multi-Mission Surface Combatants (MMSC) program for the Kingdom of Saudi Arabia as part of the US Foreign Military Sales plan.

Media Contact:

Press Office
Tel. +39 040 3192473
press.office@fincantieri.it

Investor Relations
Tel. +39 040 3192111
investor.relations@fincantieri.it

SOURCE: FINCANTIERI S.p.A.