IDEX 2017

Italian co-operation [IDEX17D4]

21 February 2017

Shipbuilding giant Fincantieri and motor yacht builder Ferretti Group have signed a co- operation agreement with the goal of developing commercial and industrial synergies between the two Italian companies.

Signed by the chief executive of Fincantieri, Giuseppe Bono, and the chief executive of Ferretti Group, Alberto Galassi, the new partnership – formally announced during IDEX – relates to the security and defence sector, and also the recreational yacht market.

Company officials believe the tie-up will allow the two groups’ complementary capabilities and expertise to generate significant business synergies in R&D, design, production and support.

Ferretti Group recently established its own Security and Defence division, known as FSD. A joint press statement issued by the two companies said the establishment of FSD was one of the factors that allowed the creation of the partnership between the two groups.

“The collaboration agreement with Fincantieri represents a recognition and confirmation of our strategy both in the recreational yachting industry and in the security and defence sector where Ferretti Group entered with its new division, FSD,” said Galassi. “We are certain that we will be able to develop important synergies…together, anything that floats we can technically do.”

(193 words)