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Fincantieri Forms New Company in U.S.

Posted on November 21, 2005

Italian shipbuilding powerhouse Fincantieri has formed a new company, Fincantieri Marine Systems North America, Inc. FDGM, Inc., the U.S.-based subsidiary of Fincantieri, will be absorbed by this new company.

The establishment of this new company is part of the vision of the Fincantieri CEO Giuseppe Bono to enlarge its presence in the global maritime market. Drawing on the vast resources of the parent company and forming strategic partnerships with other U.S. companies, Fincantieri Marine Systems North America, Inc. is uniquely qualified to provide fully engineered and integrated propulsion systems and machinery plant solutions to the U.S. shipbuilding industry for naval and commercial vessels. Service to the U.S. Navy's mine warfare force will be enhanced to an even greater level as additional parent company resources are brought to bear.

Fincantieri Marine Systems North America, Inc. will retain its corporate headquarters in Chesapeake, Virginia, and will continue to support the U.S. Navy's forward deployed mine ships through its locations in Ingleside, Texas, Bahrain and Sasebo, Japan.

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