Fincantieri, through its subsidiary WASS Submarine Systems which is active in the design and development of advanced underwater defense companies, and the Canadian Magellan Aerospace Corporation have signed a memorandum of understanding finalized to identify and develop areas of industrial cooperation aimed at to strengthen Canadian defence sovereignty and strengthen the country's underwater defense capabilities. The agreement is was signed on the occasion of CANSEC 2026, the leading trade fair in the defense that took place in recent days in Ottawa, Canada.

As part of this collaboration, WASS Submarine Systems and Magellan will work together to explore opportunities Canadian industrial participation in the torpedo sector and countermeasure systems. The areas subject to collaboration include the production of components, sections energy and subassemblies, assembly activities final and factory testing as well as maintenance and support operational in the life cycle of the systems.

The agreement provides a basis for progressive cooperation between the two companies, contributing to the development in Canada of a sustainable and competitive industrial capacity throughout the life cycle of underwater defense systems. Thanks to the combination of WASS's consolidated experience in underwater defence and Magellan's deep-rooted industrial presence on the Canadian territory, the collaboration aims to support the development of in the long run of sovereign capabilities in the underwater domain, to strengthen the involvement of local industry and to encourage sustainable management of activities in the country.