(by Admiral Giuseppe De Giorgi) After the anticipations of several national economic titles, concerning the analysis of the large investment banks on the approach between the two groups, officially confirms the renewed partnership between two of the major Italian companies to deal with the challenge of international markets.
Focusing on the already existing, but for too long, omitted, joint venture "Orizzonte Sistemi Navali" so Leonardo and Fincantieri are preparing to enhance the reciprocal competences developed so far in the national context in view of the Country System: a way to strengthen the company led by Alessandro Profumo in international competitions and use the skills of Fincantieri, led by Giuseppe Bono, in order to present joint solutions in an increasingly competitive, dynamic and demanding industry such as that of military ships. The agreement will be the subject of subsequent binding agreements that the parties will define in compliance with the applicable regulatory profiles, including those relating to transactions between related parties and antitrust. The joint venture already mentioned, and participated by Fincantieri and Leonardo with shares respectively of 51% and 49%, will now have more resources available that will allow it to assume responsibility for the Combat System, defining the requirements and architecture of the single components. To facilitate this collaboration, the two groups have also created permanent work tables. As part of the new contracts, Fincantieri will therefore remain Prime Contractor and unique interface to the customer, while Leonardo will retain its role as designer and supplier of the systems and equipment of the Combat System and the Command and Control System, strengthening its presence on the market through the privileged partnership already existing with Fincantieri. In this way the JV will become the design authority of the Combat System.
An increasingly close collaboration between the two most important defense companies in the country had been repeatedly, loudly, also desired by the Minister of Defense Elisabetta Trenta, the agreement just ended, arrived after the various trips of the past few months, demonstrates a renewed climate of relaxation between the two companies and is therefore considered a success in the face of an ever-increasing commitment to the future of our country. The move on Orizzonte could also be preparatory to the relaunch of the path of construction of the Italian-French alliance in military ships where, as will be remembered, Leonardo had suggested deploying Orizzonte to rebalance the presence of Thales, a competitor of the Italian group in systems engineering, in the capital of Naval Group, and safeguard the skills of the former Finmeccanica. As already mentioned, the strengthening of the partnership relationship between Fincantieri and Leonardo will enhance the resources and excellence of the two groups in view of new commercial and industrial challenges and could, moreover, pave the way for further opportunities for the two companies and for the Fremm frigates. which have already received the approval of several Marines, as is known, in fact, the two companies are competing together in two orders for new corvettes, announced by the Romanian and Brazilian Navies. Alliances count but the product also counts above all, as demonstrated by the defeats in Canada and Australia, where the new frigate developed inspired by the Italian PPAs prevailed. Fincantieri and Leonardo should therefore launch the new Multipurpose Offshore Patrol Vessels on the international market, innovative ships from all points of view and entirely Italian conception, leaving aside the FREMMs conceived in the early 2000s and with a French conceptual approach, only in this way can we will be able to withstand the French and English competition, while giving substance to the declarations of intent of the two state-owned companies.
Peace then, then, after the scorn for Leonardo's late move on Vitrociset? For the moment, even if it is not the first time that the two historical duellists let themselves go to announcements of newfound love, and then resume hostilities. Everyone would now seem happy: the president Conte had just hoped for greater synergy between the companies controlled by the state and also the trade union organizations of the shipyard have expressed full satisfaction. Those who did not appreciate the agreement were France, from there came news about the fact that the newly signed agreement would not have liked the Naval Group. The economic newspaper “Les Echos”, in fact, would judge that the renewed agreement between Fincantieri and the former Finmeccanica changes the balance of a possible alliance with the French company. A company in which, with a 35% stake, there is the aforementioned Thales, a fierce competitor of Leonardo in electronics and systems. Officially, the negotiations opened last year will not undergo changes but, in practice, these negotiations could be slowed down and further stalled precisely because now the Italian assurances that the Fincantieri-Leonardo agreement is not "incompatible" with the Franco-Italian alliance in the the military naval sector will have to convince even more the French Thales (which also, at least until last summer, had managed to avoid a possible role of Leonardo in the alliance). The recent political tensions between our government and Macron's France do not help in this climate, to the point that other French newspapers claim that Paris is holding back the negotiations precisely because it would not want to launch Naval Group in a irreversible merger with the Italian Fincantieri which, according to the economic experts of the newspaper "Le Figaro", among other things "Would leave the submarine sector of Naval Group orphaned, which could not take shape in the absence of new structural programs" . True, probable or false? Of course it is a further sign that in France, not all of them support for the agreement just signed by our national companies that could bring the Italian-French alliance on military ships to even more agitated waters.