WASHINGTON D.C. Today Fincantieri Marinette Marine was awarded the nearly $800 million contract to build the first-in-class guided missile frigate for the U.S. Navy, with an option for nine additional ships.

The award was announced by the Department of Defense this afternoon following competition among several other major U.S. shipyards. The contract offers FMM the option to build and deliver up to 10 ships, as well as post-delivery availability support, engineering and class services, crew familiarization, training equipment and provisioned item orders. According to the contract announcement, if all options are exercised, the cumulative value of this contract will be $5.5B.

“When we began this journey nearly two years ago it was with the belief that there was a place for new ideas, new platforms and new partners in an already talented U.S. shipbuilding industry,” said Fincantieri Marine Group CEO Dario Deste. “Today’s announcement validates that thinking.”

The Navy plans to build 20 ships as part of the future frigate program. Fincantieri will build an adapted variant of the Italian FREMM (European multi-purpose frigate) in Wisconsin at its Marinette shipyard.

“Congratulations to the Navy on this important decision,” added Deste. “The men and women of Fincantieri Marinette Marine and our partner suppliers throughout the United States are ready to get to work.”

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About Fincantieri

Fincantieri is one of the world’s largest shipbuilding groups and has built more than 7,000 vessels in over 230 years of maritime history. It is a leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry’s sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega-yachts, ship repairs and conversions, systems and components production and after-sales services.

Fincantieri Marine Group

Fincantieri operates in the United States through its subsidiary Fincantieri Marine Group (FMG). This company, which serves commercial and government customers in the US, including the U.S. Navy and Coast Guard, has three shipyards (Fincantieri Marinette Marine, Fincantieri Bay Shipbuilding and Fincantieri ACE Marine) located in the Great Lakes. www.fincantierimarinegroup.com

Contact: Eric Dent, Director of Communications | Fincantieri Marine Group

Eric.dent@us.fincantieri.com | (202) 488-4783

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