Italian defense companies strengthen their collaboration with Elefsis Shipyards and Greek industry

(To Leonardo)

As part of the collaboration with the local industrial ecosystem and the strengthening of the collaboration between Italy and Greece, Fincantieri and Leonardo have signed a series of further memoranda of understanding (MoU) with potential new Greek suppliers, laying the foundations for the definition of possible commercial relationships. The event took place today in Elefsis, where Onex Elefsis Shipyards is based. This site is the cornerstone of Fincantieri's strategy should the Group, as prime contractor, be awarded the Hellenic Navy corvette program promoted by the Greek Ministry of National Defence.

Thanks to today's result, the involvement of Greek industry continues, not only in reference to the corvette programme. In fact, the Italian team made up of Fincantieri, Leonardo – as system integrator for the Combat Management System and the main naval sensors, systems and artillery – MBDA Italia and Elettronica, is united in supporting the development of a wide-ranging shipbuilding partner with advanced and reliable skills.

After those to start a possible supply chain in Greece, Fincantieri has signed an agreement with ONEX Shipyards & Technologies Group for the creation of a production and maintenance line for corvettes throughout their life cycle, located at the Elefsis shipyards. The agreement:

• establishes the terms of the collaboration for the construction of state-of-the-art 2+1 corvettes at the Onex Elefsis shipyards, together with the necessary upgrades, improvements, transfer of know-how and technology, equipment, which are estimated at approximately 80 million euros;

• is expected to create 2.500 new direct and indirect jobs in the shipbuilding sector;

• promotes cooperation with multiple benefits for the Greek economy and the defense sector, which can be strengthened in view of future programs for the construction of military and merchant ships.

This agreement is an important step in strengthening national defense production. The know-how that will be acquired through the ONEX – Fincantieri collaboration, which involves the entire Italian industrial ecosystem, will be an important cornerstone for the development of competitive products capable of satisfying the defense needs of the various markets, giving even greater impetus to revival of Elefsis Shipyards.