Non price-sensitive communications

In the presence of Italian President of the Council of Ministers Giorgia Meloni, and Crown Prince and Prime Minister of the Kingdom of Bahrain, His Royal Highness Salman bin Hamad Al-Khalifa, Fincantieri and ASRY (Arab Shipbuilding & Repair Yard), a leading operator in ship repair and marine services in the Gulf of Bahrain, today signed a partnership agreement aimed at exploring new opportunities for collaboration in the shipbuilding sector. The signing took place on the sidelines of the 46th Gulf Cooperation Council Summit.

Fincantieri was represented by its Chairman, Biagio Mazzotta, and Eugenio Santagata, General Manager of the Fincantieri Naval Vessels Division, who signed the agreement together with Ahmed AlAbri, Chief Executive Officer of ASRY.

This agreement represents an important opportunity for Fincantieri to enter the Bahraini shipbuilding market and is a further step in consolidating the Group's strategy and presence in the Middle East, including through possible collaboration with MAESTRAL, the joint venture between Fincantieri and EDGE.

Under the Memorandum of Understanding, the two companies will jointly evaluate opportunities for the design and construction of surface military vessels up to 80 meters in length, intended for use by the Bahrain Navy and Coast Guard. The partnership will also explore the design and construction of offshore vessels of similar size, as well as the execution of export contracts in the Gulf area. The agreement also includes maintenance, repair, and overhaul (MRO) services for military, commercial, and offshore vessels, as well as the exchange of know-how in naval design and production process optimization.

Pierroberto Folgiero, CEO and Managing Director of Fincantieri, said: “This agreement strengthens our strategic position in the Gulf and confirms Fincantieri's desire to develop long-term industrial partnerships with leading partners such as ASRY. By combining complementary skills and converging visions, we are laying the foundations for a solid and structured presence in the Bahraini shipbuilding market, in line with the objectives of our integrated export platform in the Middle East.”