Vard Electro Italy opens

Trieste - The shipbuilding group Vard, that specializes in the offshore sector and is controlled by Fincantieri, has officially opened Vard Electro Italy. This wholly owned subsidiary is controlled by Vard Electro of the group Vard Holdings Limited.

The new Italian-based company will provide electrical ‘turnkey’ solutions to other parts of the Fincantieri group. The investment for the establishment of the new company, which has a share capital totalling €200,000, was funded internally by the Vard group.