Leonardo and Fincantieri to Deliver Italian Navy DDX Destroyers in €3.7B Deal
Overview of the Italian Navy DDX Destroyers Contract
Contract Details and Financial Breakdown
ROME, Sept 24 (Reuters) - A joint venture between Fincantieri and Leonardo has signed a contract with the European procurement agency OCCAR worth around €3.7 billion ($4.21 billion) to supply two new generation DDX destroyers for the Italian Navy.
Financial Allocation Between Partners
• The contract is worth approximately €1.8 billion to Fincantieri and €1.7 billion to Leonardo, the companies said in a statement on Thursday.
Options and Additional Value
• About €1.3 billion of the total contract value consists of options.
Delivery Timeline and Joint Venture Structure
• Delivery of the two vessels is scheduled for 2033 and 2035.
• Fincantieri owns 51% and Leonardo 49% of Orizzonte Sistemi Navali (OSN), the joint venture that won the contract.
Strategic Importance for the Italian Navy
• "With these two new-generation units, the (Italian Navy) will be able to rely on naval platforms offering advanced operational performance and capable of addressing a broad spectrum of threats," Leonardo CEO Lorenzo Mariani said.
Additional Information
($1 = 0.8797 euros)
(Writing by Francesca Piscioneri, editing by Alvise Armellini)
