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With torpedo firm buy, Fincantieri eyes $100bn undersea-defense market

Summary by Defense News

ROME — Italian state shipyard Fincantieri has completed the purchase of Italian torpedo firm WASS for a price that could reach €415 million ($428 million) as it strengthens its undersea activity.Fincantieri started talks last year to buy WASS from fellow Italian state-controlled group Leonardo, which has been seeking to sell the firm for a number of years as it focuses on aerospace activities.Fincantieri, which builds cruise ships, naval vessels…

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With torpedo firm buy, Fincantieri eyes $100bn undersea-defense market

ROME — Italian state shipyard Fincantieri has completed the purchase of Italian torpedo firm WASS for a price that could reach €415 million ($428 million) as it strengthens its undersea activity.Fincantieri started talks last year to buy WASS from fellow Italian state-controlled group Leonardo, which has been seeking to sell the firm for a number of years as it focuses on aerospace activities.Fincantieri, which builds cruise ships, naval vessels…

1 month ago·United States

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Defense News broke the news in United States 1 month ago on Wednesday, January 15, 2025.

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