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Towards Fincantieri-Leonardo pact on submarines

Sale of the Wass company into which hundreds of millions of euros will be injected

The acquisition of the Whitehead Alenia Sistemi Subacquei (Wass) company, the submarine division of the Italian Leonardo Group which will be acquired by the Italian maritime group Fincantieri, will be worth approximately 250-300 million euros. According to rumors in the press, the company operating in the naval and defense sectors will put up to 500 million on the table to recapitalize the company.

This is what the "Reuters" news agency reports today, confirming the advances made by the Italian unions Fim-Cisl, Fiom and Uilm, who recently met the CEO and general director of Leonardo, Roberto Cingolani and Lorenzo Mariani, respectively. The agreement should be made official between today and tomorrow, May 10, 2024.

This is a move that is part of a broader strategy of the Fincantieri Group, led by CEO Pierroberto Folgiero, which aims to expand the company business through various acquisitions, focusing more on the defense sector (which now represents around 25% of company revenues) and strengthening its position in the submarine sector.

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AVIONEWS - World Aeronautical Press Agency