Fincantieri and Ferretti Group reached a cooperation agreement with the goal of developing commercial and industrial synergies between the Italian companies.
The partnership was announced during the Idex-Navdex in Abu Dhabi.
The agreement relates to the security and defense sector and to the recreational yachting industry. The companies said they have complementary capabilities and expertise in both areas that can lead to significant synergies.
They said Monday that Fincantieri CEO Giuseppe Bono and Ferretti Group CEO Alberto Galassi signed the agreement a few days ago.
Ferretti and Fincantieri said they share an interconnected market view, especially after the foundation of FSD, Ferretti Group’s division dedicated to security and defense.
“We are very pleased to work together with Ferretti Group because Fincantieri, even though it is continuing — with great effort — its internationalization path, does not forget its Italian roots and is keen to network into a system with all the Italian companies that believe to be able to grow together and contribute to their international expansion,” Bono said in a statement.
“We are glad that this announcement has been given in the context of Idex-Navdex, in a country with which we have historically great relations and a geographical area of particularly significant strategic importance. Moreover, the event is attended by a vast audience of highly specialized international professionals,” Galassi said.