Fincantieri has signed a memorandum of understanding with the German TKMS agreement to increase the collaboration of the two companies in the subsea sector, which provides for the establishment of a framework for collaborative partnership by the end of this year. The agreement, which - the two parties specified - does not provide for mergers or acquisitions, aims to strengthen cooperation industry in this sector by promoting a more integrated, competitive and efficient industrial environment, for the implementation of new projects and to achieve cost synergies. Among the purposes, there is also the joint evaluation of the opportunities offered by international tenders that can be addressed more effectively through the collaboration.

"At a time when Europe is called upon to strengthen its defence capabilities - commented the CEO of Fincantieri, Pierroberto Folgiero - defragmentation represents a concrete and towards a more competitive industrial base and integrated. This agreement is designed to take advantage of the points strength and complementary skills in order to better serve our customers, while contributing to the long-term development of European submarine capabilities'.