Fincantieri aims to strengthen in the US: how the group will increase icebreaker ship production

Fincantieri wants to increase its production capacity in the US and is considering expanding the Sturgeon Bay and Jacksonville shipyards. Fincantieri's CEO, Pierroberto Folgiero, reaffirmed the group's intention, also in light of what emerged after Prime Minister Giorgia Meloni's last visit to the United States. In short, Fincantieri is aiming to exploit possible development opportunities linked to the plans of US President Donald Trump, who has made it clear on several occasions that he wants to increase the budget dedicated to shipbuilding.

But which American Fincantieri shipyards could be strengthened? The increase in production capacity could concern, to begin with, the Sturgeon Bay plant that serves both the defence sector, as it works for the Marinette shipyard where, among other things, the multi-mission frigates of the Constellation programme for the US Navy are built, and the civil sector. The expansion would be triggered by virtue of the fact that the shipyard, as Folgiero himself - who will be reconfirmed today at the helm of the group along with chairman Biagio Mazzotta following the shareholders' meeting - explained during the conference call on quarterly results, would dedicate itself to the construction of new strategic ships, such as icebreakers.

The latter are considered very important products, especially for the new Arctic routes that are becoming increasingly important. Fincantieri has solid experience in the design and construction of icebreakers through its subsidiary Vard's centre of excellence in Norway. In addition, the Jacksonville yard is set to become a repair and maintenance centre for destroyers and frigates, with the possibility of further expanding production capacity and presence in Florida.

Fincantieri has already invested around USD 800 million in the US economy over the past 15 years, of which the last USD 400 million has been dedicated to building frigates at the military shipyard in Marinette, Wisconsin. Fincantieri employs more than 3,000 people and, thanks to the Constellation programme, around 800 additional jobs are expected to be created by 2027, not counting people employed on outsourcing contracts in the USA.

To support the expansion of production capacity, Fincantieri then aims to create an engineering hub in the two cities of Milwaukee and Madison to support the shipbuilding hub in Marinette/Sturgeon Bay. This hub will be able to take advantage of Fincantieri's engineering company already operating in Houston, Texas, which has the necessary expertise and security clearance to design cable-laying and ice-breaking ships for the US government. Not only that. The group wants to strengthen partnerships with American universities so as to increase the annual number of naval engineering graduates in the US.