Spain’s Navantia and Italian firm Fincantieri are to sign a memorandum of understanding (MoU) during the FEINDEF exhibition in Madrid.

The MoU is aimed at further enhancing the relationship between the two companies and will assess the advantages of an expanded partnership in the naval and maritime fields.

The partnership will focus on evaluating opportunities relating to key defence programmes, such as the development of future destroyers and other platforms of the Italian and Spanish navies.

It may also include the development of joint projects as part of the future European Defence Force (EDF).

Fincantieri CEO Giuseppe Bono said: “We have long agreed that, in order to stand its ground with the global challenges of the future, we need a robust and long-lasting cooperation in the defence and security field at a European level, just so our continent will be able to play an increasingly important role and this agreement goes in that direction.

“We are therefore very satisfied to give substance to a plan that can no longer be postponed and to build a collaboration path based on important programmes of the two navies.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The Spanish and Italian firms have already partnered on the European Patrol Corvette (EPC) programme.

The EPC corvette will be developed as part of the naval initiative within the Permanent Structured Cooperation (PESCO) project, alongside France’s Naval Group.

Italy, Spain, Greece and France are the four PESCO participating countries involved in the EPC programme.

In February this year, Fincantieri and Naval Group’s 50:50 joint venture (JV) Naviris formed a strategic collaboration with Navantia for the EPC programme.

Navantia chairman Ricardo Domínguez said: “The real opportunity of collaboration that this MoU represents, as it is the first one signed between both companies at this level and with this ambitious scope.

“We aim to strengthen European Defence and boost European Defence Industry position and we think that agreements as ours pave the way towards this objective.”