US NAVY AWARDS CONCEPT DESIGN CONTRACT TO FINCANTIERI TO EVOLVE FREMM INTO FFG(X)

WASHINGTON/ROME: The U.S. Navy awarded to FINCANTIERI (FCT.MI) subsidiary, Marinette Marine Corporation, a $15M contract to evolve its FREMM-design into the next generation FFG(X) guided missile frigate.

Closely matched to U.S. Navy requirements, six FREMM frigates are in service with the Italian Navy and have successfully completed multi-role missions worldwide. A FREMM-based design has also been chosen in Australia for the final stage of the SEA5000 Project to acquire nine AEGIS-equipped Anti-Submarine Warfare Frigates for the Royal Australian Navy.

Fincantieri Marinette Marine has teamed with Gibbs & Cox and Trident Maritime Systems to evolve FREMM to U.S. design standards. This wholly American team will develop a ship design, which, in case of award of the construction contract, would be built at Fincantieri shipyards in the US, where, over the past 9 years the company has developed a highly skilled workforce, an extensive supply chain and expertise in building ships to US Navy standards. .

“We are honored to see the FREMM down-selected by the U.S. Navy on grounds of being a well-proven, highly capable and modern design, based on a deployed, high-performing ship, which is the closest to the FFG(X) requirements,” FINCANTIERI CEO, Giuseppe Bono, said. “We are committed to continue to play a part in the development of the U.S. Navy’s small surface combatant strategy, central to our customer’s long-term goals for fleet size, and the growth of export for the American shipbuilding industry.”

“This contract, along with the selection of FREMM for the final round in Australia, confirms our global leadership in the design and construction of the most technologically advanced vessels and our ability to continuously innovate,” Mr. Bono concluded

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About Fincantieri

Fincantieri is one of the world’s largest shipbuilding groups and number one by diversification and innovation. It is a leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry’s sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega-yachts, ship repairs and conversions, systems and components production and after-sales services. Having built more than 7,000 vessels in over 230 years of maritime history, and with around 19,400 employees and 20 shipyards on four continents, today Fincantieri is the leading Western shipbuilder. It has among its clients many of the world’s major cruise operators, the Italian and the U.S. Navy, in addition to several foreign navies, and it is partner of some of the main European defense companies within supranational programs. www.fincantieri.com Fincantieri operates in the United States through its subsidiary Fincantieri Marine Group. Fincantieri Marine Group serves government customers, including the U.S. Navy and Coast Guard, with its three shipyards—Fincantieri Marinette Marine, Fincantieri Bay Shipbuilding and Fincantieri ACE Marine—all located in the Great Lakes Region: www.fincantierimarinegroup.com

About Fincantieri Marinette Marine

Fincantieri Marinette was founded in 1942 along the Menominee River in Marinette, Wisconsin to meet America’s growing demand for wartime naval construction. From humble beginnings with a contract to build five wooden barges, Fincantieri Marinette Marine has grown into a world-class shipbuilder, having designed and built more than 1,500 vessels. Its government portfolio includes the U.S. Navy’s Freedom-Variant Littoral Combat Ship, Mine Countermeasure Vessels and Ocean Tugs, as well as USCG Icebreakers, Buoy Tenders and the Response Boat-Medium.

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For Additional Information Contact George Moutafis, Vice President Programs, Fincantieri Marine Group, 202.488.4799 ext 6610 George.Moutafis@us.fincantieri.com