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As part of the Italian Navy's Offshore Patrol Vessel (OPV) program, Orizzonte Sistemi Navali (OSN), a joint venture owned by Fincantieri (51%) and Leonardo (49%), has received notification from the Italian Navy that it has exercised its option for the construction of the fourth next-generation patrol vessel and the related logistical support. The total value of the operation is about 236 million euros.
In the coming days, Orizzonte Sistemi Navali will finalize sub-contracts by notifying the option exercise to Fincantieri and Leonardo, with a value respectively of around 163 million euros and 70 million euros. The contract with Fincantieri constitutes a significant related-party transaction. For Leonardo, the sub-contract is a related-party transaction of lesser importance, considering its value and the applicable relevance indexes. Both transactions are in keeping with the applicable regulations and are exempt from the procedural regime for related-party transactions (including jointly), pursuant to current regulations and the respective procedures adopted.
The OPV program, put in place to contribute to the modernization and renewal of the Italian Navy's units, responds to the need to ensure adequate capabilities for presence and surveillance, maritime patrolling, merchant traffic control, protection of lines of communication and the exclusive economic zone, as well as operations to protect against threats derived from marine pollution, such as toxic liquid spills.
With a length of about 95 meters, a displacement of 2,300 tons and the capacity to accommodate 97 crew members on board, the new patrol vessels, which will be built at Fincantieri's Riva Trigoso and Muggiano Integrated Shipyard, will be marked by a package of technological solutions, as well as standards of excellence in automation and maneuverability that will make them suitable for operating in a wide range of tactical scenarios and weather conditions.
Among the most innovative features is the naval cockpit, developed for the Italian Navy's Multipurpose Offshore Patrol Vessels (PPAs) based on a truly revolutionary requirement: an integrated workstation, co-produced by Leonardo and Fincantieri NexTech, that allows the conduct of the ship and airborne operations by just two operators, the pilot and co-pilot, who have incorporated the figures of the bridge watch officer and the captain. Indeed, from this station, located in the command bridge, it is possible to manage the machines, rudders and platform systems and some functions of the combat system.
Orizzonte Sistemi Navali (orizzontesn.it) is an Italian company that has been operating for over 20 years as a system integrator at Whole Warship level throughout the ship's life cycle. The Company is Prime Contractor, Whole Warship and Combat System Design Authority for important national and international production and logistics support programs. It is owned by Fincantieri (51%) and Leonardo (49%), the two main Italian industrial groups operating worldwide in the defense sector.
Fincantieri (fincantieri.com) is one of the world's leading shipbuilding companies, the only one active in all areas of high-tech shipbuilding. It is a leader in the construction and transformation of cruise, military and offshore vessels in the oil & gas and wind power sectors, as well as in the production of systems and components, after-sales services and ship-furnishing solutions. Thanks to the skills it has developed in the management of complex challenges, the Group has completed a number of world-class infrastructure projects and is a leading player in digital technology, cybersecurity, electronics and advanced systems. With over 230 years of history and more than 7,000 ships built, Fincantieri maintains its know-how and management centers in Italy, where it employs 10,000 workers and creates around 90,000 jobs, doubling the employment figure worldwide thanks to a production network of 18 shipyards operating on three continents employing over 21,000 direct workers.
Leonardo (leonardo.com) is an international industrial group, among the world's leading Aerospace, Defense and Security (AD&S) companies. With 53,000 employees worldwide, it works for global security through the Helicopter, Electronics, Aircraft, Cyber & Security and Space sectors, and is a partner in some of the most important international programs in the industry, such as Eurofighter, NH-90, FREMM, GCAP and Eurodrone. Leonardo has developed significant manufacturing capacities in Italy, the UK, Poland and the US, also operating through subsidiaries, joint ventures and investee companies, including Leonardo DRS (72.3%), MBDA (25%), ATR (50%), Hensoldt (22.8%), Telespazio (67%), Thales Alenia Space (33%) and Avio (29.6%). Listed on the Milan Stock Exchange (LDO), in 2023 Leonardo took new orders worth €17.9 billion, with an order book of €39.5 billion and consolidated revenue of €15.3 billion. The company is also listed on the MIB ESG index and has been part of the Dow Jones Sustainability Indices (DJSI) since 2010.
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