Fincantieri S.p.A. is an Italian shipbuilding company based in Trieste, Italy. Already the largest shipbuilder in Europe, after the acquisition of Vard in 2013 and 50% of STX France in 2018, Fincantieri group doubled in size to become the fourth largest in the world. The company builds both commercial and military vessels.
The company is listed on the Borsa Italiana (Milan Stock Exchange) and is a component of FTSE Italia Mid Cap Index.
Fincantieri designs and builds merchant vessels, passenger ships, offshore, and naval vessels, and is also active in the conversion and ship repair sectors. The company also owned Grandi Motori Trieste, which constructed marine diesel engines, but this was sold to Wärtsilä in 1999.
Founded in 1959 as Società Finanziaria Cantieri Navali – Fincantieri S.p.A. as a State financial holding company, part of IRI, the company became a separate entity in 1984.
Today Fincantieri is one of Europe’s largest shipbuilding groups and the largest in the Mediterranean.
Fincantieri employs a staff of about 10,000 (rising to approximately 20,000 if the supply chain is included) working at eight shipyards, two design centres, one research centre and two production sites for mechanical components.
The shipyards of Monfalcone (Gorizia), Marghera (Venice), Sestri Ponente (Genoa), Ancona, Castellammare di Stabia (Naples) and Palermo report to the Merchant Ships Business Unit while the shipyards of Riva Trigoso (Genoa) and Muggiano (La Spezia) report to the Naval Vessel Business Unit.
Fincantieri successfully completed the acquisition of Manitowoc Marine Group from its parent company The Manitowoc Company, Inc. on 1 January 2009, which consisted of two shipyards in Wisconsin, including Marinette Marine, which built the first Freedom-class littoral combat ship. Fincantieri also purchased from Manitowoc Marine Group a topside repair yard in Ohio and one production plant in Wisconsin, making it one of the leading mid-sized shipbuilders in the United States for commercial and government customers, including the U.S. Navy and U.S. Coast Guard.
Already the largest shipbuilder in Europe, after the acquisition of Vard the Fincantieri group doubled in size to become the fourth largest in the world.
In March 2015, Fincantieri won its biggest ever independent order from Carnival Corporation & plc in a 4 billion euro deal commissioning the company to build five new cruise ships.
Fincantieri is currently in talks with the French government to purchase part of the majority of STX ship building although negotiations are ongoing and controversial.
On 2 February 2018, Fincantieri announced an agreement for 50 per cent of STX France valued at 59.7 million euro.
In March 2018, Fincantieri established Fincantieri Services USA – a subsidiary based in Miami, Florida, USA.