German shipbuilder TKMS and Italy's Fincantieri have signed a memorandum of understanding to deepen cooperation in the submarine and underwater sectors.
Under the agreement, the two companies plan to establish a collaboration framework by the end of the year, subject to regulatory approvals.
According to the companies, the partnership aims to address fragmentation across the European naval defence sector by leveraging complementary strengths, pursuing new programmes, and realising cost synergies.
They also intend to explore joint international procurement opportunities, while continuing to operate independently with existing contracts remaining unaffected.
The initiative does not involve any merger or acquisition and builds on decades of industrial collaboration on the 212A and 212NFS submarine classes.
The companies added that all future joint activities will comply with competition law and export-control regulations while remaining subject to customer approvals.
Fincantieri Chief Executive Officer and Managing Director Pierroberto Folgiero remarked, “At a time when Europe is called upon to strengthen its defense capabilities, de-fragmentation represents a concrete and pragmatic path towards a more competitive and integrated industrial base.”
