Fincantieri and Naval Group formalize their agreement that previews the constitution of joint venture 50:50



Today the navalmeccanico group Italian Fincantieri and that French Naval Group have signed an Alliance Cooperation Agreement that defines the operating terms for the constitution of joint venture joint, previewed in the next few months and however within end 2019. The parts have specified that "the agreement, that it follows the approval of the respective boards of directors, sostanzia the contents of the project "Poseidon" and open the road to the project of strengthening of the naval cooperation to support of the two groups for the creation of a more efficient and competitive European industry navalmeccanica".

Fincantieri and Naval Group have emphasized that "the alliance represents a great opportunity for both groups and their ecosystems to increase own ability to serve respective national Navy more better, to acquire new contracts of export, to develop to new technologies and, after all, to improve the competitiveness of the naval sections of the two Countries".

The agreement establishes that joint venture will have center to Genoa, with controlling in France, to Ollioules. The governance of the new society, disciplined also from a parasociale pact, previews a board of directors of six members, three on nomination of each society. For the first triennial mandate Fincantieri it will express the president and chief operational officer and the Naval Group the managing director and the chief financial officer. Fincantieri and Naval have specified that, to confirmation of the strategic valence that Fincantieri and Naval Group attribute to this operation, in the council they will sit the managing directors of the two groups, Giuseppe Bono (that it will assume the charge of president of joint venture) and Hervé Guillou.

Moreover it is specified that through joint venture Fincantieri and Naval Group they will share best practice between the two societies, will jointly lead activity aimed of research & development, will optimize the policies of purchases and will prepare jointly offered for binational programs and the export.

"We manifest - Giuseppe Bono and Herve? Guillou have declared - great satisfaction for the reached result and, above all, we wish to thank our governments who in recent months have worked side by side to we, and continue to make it, in order to finalize an understanding whom the protection of the sovereign assets will assure, favoring the collaboration between the two teams. This engagement will afford us to support always better our Navy, to supply the adequate support to the operations for the export common and to in concrete terms throw the bases for the consolidation of the European industry of the defense".