PARIS, France (BulgarianMilitary.com) – Naval Group and Fincantieri unveiled details in a press release on 23th October 2018 regarding the announcement of the Governments of France and Italy during the 34th Franco-Italian Summit in Lyon on 27th September 2017 about their intention to facilitate the creation of a more efficient and competitive European shipbuilding industry and reinforce their military naval cooperation through establishing an industrial Alliance between Fincantieri and Naval Group after relevant discussions, learned BulgarianMilitary.com

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Since that announcement last year both companies, Fincantieri and Naval Group, have taken the appropriate steps in that direction and submitted their proposal to the competent French and Italian Ministers in July 2018 for the establishment of the mentioned Alliance, the first step of which is establishment of a 50/50 joint venture (JV). The proposal included an industrial project, the foreseen roadmap, as well as a description of the key initiatives.

The initially planned goals of the future JV is joint preparation of offers for binational programs and export market, more efficient supply policy, joint performance of selected research and innovation activities aiming at providing operational superiority to customers, encouraging cross-fertilization between the two companies, as well as sharing of testing facilities or tools and expertise networks.

Fincantieri and Naval Group consider that the future Alliance would be a great opportunity for them and their eco-systems through improving their ability to serve the Italian and French navies in a much better way, to win new export contracts, to increase research funding and improve the competitiveness of both French and Italian naval sectors as a whole.

A Government-to-Government Agreement should be signed in the process of creation of the Alliance. Such an agreement will ensure the protection of sovereign assets, a fluid collaboration between the French and Italian teams and encourage further coherence of the National assistance programs, which provide a framework and support export sales.

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BulgarianMilitary.com

Source: Naval Group