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26 February 2021 The on-line newspaper devoted to the world of transports 23:11 GMT+1

January 28, 2021

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The marriage between Fincantieri and Chantiers de l'Atlantique does not you'll do

The unprecedented uncertainties on the tourist market - explain Rome and Paris - do not allow the planned Operation

The marriage between the Italian naval mechanical group Fincantieri and that French Chantiers de l'Atlantique will not be done. It is not a have announced the Ministry of Economic Development in Rome and the Ministry of Economy, Finance and Relaunch of Paris explaining that "Italy and France recognize that the does not allow you to complete the expected operation between Chantiers de l'Atlantique and Fincantieri' and that 'the agreement purchase of shares on Chantiers de l'Atlantique, signed by the State French, by Fincantieri and Naval Group on 2 February 2018, will end on 31 January 2021, after five extensions ( of the 5th February 2018). The two departments specified that "the parties agreed not to extend the agreement again, Whereas the unprecedented uncertainties on the market tourism do not allow the planned operation to be carried out between Chantiers de l'Atlantique and Fincantieri.'

"Supported by both countries," recalled the two ministries in a note -- this operation was initiated more three years ago but its conclusion was subject to to the approval of the European Commission that On October 30, 2019 had opened an in-depth examination of the project and had expressed concerns about the impact of this operation on the Competitiveness. In the context of the Covid 19 epidemic and its relative consequences for the recovery of the shipbuilding industry, the European Commission has not reached a position final on the transaction. France and Italy are now obliged to draw the necessary conclusions to enable both company to focus on their exit strategy from the crisis and new projects. The State French remains the main shareholder of Chantiers de l'Atlantique and supports the company through this crisis.'

"France and Italy - continues the note - remain fully committed to deepening their cooperation in the naval field and shipbuilding industry, in line with the conclusions of the 34th 2017. The launch, on May 18, 2020, in Chantiers atlantique, the construction of the first of the four units auxiliary naval services for the FLOTLOG program for the French, the front of which is entrusted to the Fincantieri shipyard in Castellammare di Stabia, testifies to the continuous cooperation between two countries and the two companies. In addition, the Naviris joint venture between Naval Group and Fincantieri is fully operational by January 2020 and supported by France and Italy. Naviris started actively to envisage export projects and launched joint R&T projects. The joint venture is developing projects for both the Italian and Italian French Marines and for wider contexts, such as the development of corvette european patrol supported by the CFSP. More in general, Italy and France continue to support cooperation between companies in the two countries.'

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