How and where Fincantieri moves in the military sector. Facts, numbers and details
Fincantieri goes straight in the defense sector.
Fincantieri officially started its activities as part of the SEA Defense project. The initiative, selected as part of the European Defense Development Program (EDIDP 2019), started last December.
Vard has been selected to design the new amphibious landing and transport ships of the Armada de Chile that will be built at the ASMAR shipyard in Talcahuano.
All the details.
FINCANTIERI'S ACTIVITIES START FOR SEA DEFENSE
Fincantieri officially started its activities within the Sea Defense project, selected as part of the European Defense Development Program (Edidp 2019) and started last December.
As the note explains, the EDIDP is a precursor to the European Defense Fund (EDF). Sea Defense aims to define a technology development roadmap to be included in the next generation of naval platforms and to be pursued in further European development programs.
The project is supported by the participating EU Member States, coordinated by the Dutch Ministry of Defense.
THE FINANCING OF THE PROJECT
Recently, the European Commission signed the “Grant Agreement” worth a total of about 14 million euros which finances the project. Thus marking an important step in European naval cooperation.
WHO PARTICIPATES IN SEA DEFENSE BEYOND FINCANTIERI
Sea Defense is a collaboration of Sea Naval, a Sea Europe (European Shipyards and Equipment Association) working group dedicated to military shipping.
Damen, Fincantieri, supported by the subsidiaries Cetena and Seastema as "linked third party", Naval Group, Navantia, SAAB Kockums, Thyssenkrupp Marine Systems, Lürssen Defense, TNO, MARIN, Odense Maritime Technology, CTN are part of it.
VARD WILL BUILD MILITARY TRANSPORT SHIPS FOR THE CHILEAN NAVY
Also this week, Fincantieri collected a contract in the military sector.
The Chilean ASMAR Shipbuilding & Ship Repair Company has awarded Vard Marine, a subsidiary of Fincantieri, a new contract for the design of an amphibious and military maritime transport vessel. The project is the Escotillón IV program of the Chilean Navy.
The multi-role ships will be built at the ASMAR shipyard in Talcahuano, Chile. The units will have to operate in the Pacific and Antarctic Oceans to carry out logistical support missions, Search and Rescue (SAR), transport and deployment of soldiers. In addition to humanitarian assistance and relief to populations affected by natural disasters.
BASED ON THE 7 VARD SERIES
The transport vessel design will be based on the existing Vard 7 Series based on the specific requirements of the Chilean Navy, including the latest technological advances in cargo handling, landing craft and helicopters.
THE JV CONTINUES WITH NAVAL GROUP NAVIRIS
As we said at the beginning, last week the group from Trieste collected the stop on the acquisition of the French shipyards Chantiers de l'Atlantique (formerly Stx). ( Here the comment on Start by General Mario Arpino, former Chief of Defense Staff, on the matter ).
With the stop of the operation, questions were raised about the future of Naviris, an equal joint venture between Fincantieri and Naval Group (shareholder of the former Stx France with 11%).
In fact, just last week, Naviris officially received the ISO 9001: 2015 and Aqap 2110 certifications from Lloyd's Register, in accordance with the provisions of the supplementary NATO regulation for the main defense suppliers. These certifications, a note read, are a further step forward in the development of the joint venture, whose purpose is to manage export and cooperation programs for surface ships as well as research and development projects.
NO IMPACT ON FINCANTIERI FOR DELAYS OF THE FREEDOM LCS
Finally, Fincantieri should also breathe a sigh of relief on the American front.
Two weeks ago, the US Navy stopped deliveries of Lockheed Martin's Freedom-class coastal fighter ship , citing a design flaw in the vessel's complex drive system. In mid-December, the US Navy had sent an investigation into repeated problems involving the military ships Litoral Combat Ship (Lcs).
Fincantieri participated in the design and construction of the Lcs with the Fincantieri Marinette Marine shipyard of the subsidiary Fincantieri Marine Group. And he discounted the news on the stock market with a decline. In fact, analysts' recommendations weighed on the stock.
However, analysts remain neutral this week, as MilanoFinanza recounts. “The experts of Banca Akros confirmed the reduction recommendation on the Fincantieri stock with a target price of € 0.50, recalling that the group has built about 10 Freedom class vessels and that another 6 are currently under construction. In addition, the analysts of Banca Akros report, the company has won a supply contract for four Multi-Mission Surface Combatants of the Saudi navy and also the Greek one would seem interested in the platform. The delay in commissioning, in such a scenario, should not pose a problem for the Italian owner's objectives, especially as the combination of defective parts was designed by the German company Renk Ag. La Marina, Lockheed (the other boat designer) and Renk are working to solve the problem, which could take a few months to install on each ship.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/fincantieri-tutte-le-ultime-mosse-militari/ on Mon, 08 Feb 2021 07:22:02 +0000.