Naval Group, Fincantieri, 50:50 Joint Venture is Named ‘NAVARIS’

  • Our Bureau
  • 06:13 AM, November 1, 2019
  • 2632
Naval Group, Fincantieri, 50:50 Joint Venture is Named ‘NAVARIS’

Naval Group and Fincantieri have christened their equally shared joint venture as ‘NAVARIS’.

The incorporation of the JV, NAVARIS is expected as planned before the end of the current year.

Following the announcement made on 14 June 2019, when the operational terms for the incorporation of a 50/50 owned joint venture between Naval Group and Fincantieri were settled out, today the two companies announced the name of the new company: NAVIRIS, which recalls a robust partnership that guarantees a higher quality know-how, projected to an international scenario.

The name was presented during the recent Steering Committee held in Genoa (it meets every quarter alternatively in France and Italy) and is a new step in the strong collaboration between Fincantieri and Naval Group.

The Alliance between Fincantieri and Naval Group represents a great opportunity for both groups and their ecosystems to enhance their ability to better serve the French and Italian navies, to capture new export contracts, to develop new technologies and, ultimately, to improve the competitiveness of the naval sectors of both countries.

NAVARIS will be one of the biggest naval shipbuilding firms in the world combining some of the assets and expertise of France’s Naval Group and Italy’s Fincantieri.

Naval Group, Fincantieri, 50:50 Joint Venture is Named ‘NAVARIS’

Through this joint venture, Fincantieri and Naval Group intend to jointly prepare offers for bi-national programs and export market; to jointly conduct selected research and innovation activities aiming at providing operational superiority to customers.

Naval Group and Fincantieri have already engaged in a common industrial collaboration to provide the French Navy with four logistic support ships (LSS), based on the design of the Italian Vulcano LSS. Furthermore, as of 2019 and with the support of both Ministries of Defense, Naval Group and Fincantieri contemplate to present a common offer for the first studies for the Mid-Life Upgrade of the French and Italian Horizon-class destroyers with a common Combat Management System (CMS).