A pact between Fincantieri and Finmeccanica

La Spezia - Fincantieri and Finmeccanica have struck a deal concerning the construction of military ships. It is not a joint venture, for now, but in the future it could take the form of a single company that is able to offer complete packages to foreign buyers: the product itself, plus support, logistics, and training. The collaboration will take advantage of the technical and commercial synergies between Fincantieri (military ship division) and the Finmeccanica Group companies Selex ES, Oto Melara and Wass plus the joint venture MBDA Italia. These companies specialize in combat systems, electronics and naval and underwater weapons systems. As Fincantieri C.E.O. Giuseppe Bono explained, “Together we can come up with competitive products. A problem that we frequently have in Italy is that we don’t tend to work as a team. We have now decided to give a strong signal to the rest of the country.” At the launch ceremony for the submarine Pietro Venuti, Bono had harsh words for everyone: “The way we have been working up to now is a mistake.

To build growth and create jobs we need a change of direction, the unions may say that they have made sacrifices but we haven’t fired a single person... They can’t face the difficult conversation about flexibility. Nor can they accept that metalworkers get seven weeks of vacation per year, regardless of what you decide to call them. And we can’t afford to waste time as in Sestri Ponente, where five years ago we said that the infrastructure wasn’t in good shape and nothing has happened.” Mauro Moretti, Finmeccanica’s C.E.O. was equally harsh. “No more senseless investments, we have to make choices - Finmeccanica has too many business lines - we can’t afford it.” So there will be lay-offs in the future: but wasn’t it you, Mauro Moretti, when you were the C.E.O. of Ferrovie Moretti, who said that a national industrial platform would be desirable? “I said that five years ago. Now I think it would be useful, but it’s too late…” A clear reference to STS Ansaldo and Ansaldo Breda. Fincantieri and Finmeccanica, together, have a business worth a billion and a half euros.

And this makes them the world leaders in the construction of integrated military ships, which allows them to choose their work carefully: “We should win commissions,” the managers explained, “that will guarantee us wealth.” In other words, they must not only pursue production, but also research and innovation. In the end, the possibility of creating a network of providers “to obtain the development of technological excellence in Italy’s small and medium-sized businesses, guaranteeing growth both from the point of view of scale and in terms of scientific research and quality production.” Considering the historically strained relationship between Finmeccanica and Fincantieri, the talk that is coming from Muggiano sends a very good message. Minister of Defence Roberta Pinotti gave her blessing to the deal, which she strongly supported and will contribute to with the renovation of the Italian fleet. The minister warned, “On this issue, however, we must wait for approval in parliament.”