Fincantieri Wins $30m US Navy Contract for Four Vessels

Italian shipbuilder Fincantieri said on Wednesday its Fincantieri Marine Group unit has won a $30 million contract with the U.S. Navy for materials procurement and engineering activities for the four vessels under its Medium Landing Ship (LSM) program.

Here are some details about the deal:

• The award supports the immediate procurement of long lead-time materials and the execution of engineering and critical industrial and production readiness activities for the first four vessels, the company said.

• It will enable a start to construction as early as the fourth quarter of 2026.

• This step represents a "material acceleration" for the LSM program and precedes a future award of construction contracts, the Fincantieri statement said.

• The award is subject to applicable approvals and contractual arrangements.

(Reuters)