According to information published by Suddeutsche Zeitung on July 17, 2023, Fincantieri's CEO, Pierroberto Folgiero, is calling for more significant collaboration among European defense corporations.
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Artist rendering of the future U212 Near Future Submarine, a partnership between OCCAR, TKMS, and Fincantieri. (Picture source: OCCAR)
This plea comes as Thyssenkrupp, the German steel giant, is considering separating its shipyard subsidiary. Folgiero firmly believes that collaboration is essential in today's dynamic environment.
Given the multitude of issues facing the defense sector, from geopolitical uncertainties to fast-paced technological developments, Folgiero suggests that fostering cooperation can generate synergies, exchange knowledge, and stimulate collective ingenuity to better tackle these obstacles.
Folgiero has made his interest in partnering with Thyssenkrupp known. He has asserted his readiness to cooperate with the German steel powerhouse's shipyard offshoot.
While the precise details of this potential partnership remain undisclosed, his statement reflects Fincantieri's forward-thinking stance towards seeking out alliances.
This stance is emblematic of a wider consolidation trend in the European defense sector. As companies strive to remain competitive in the global market, they are increasingly seeking partnerships and mergers. Against this backdrop, Folgiero's remarks and overtures towards Thyssenkrupp could be a sign of impending strategic shifts within the industry.
Considering the evolving dynamics of the defense sector, an alternative possibility has emerged with the idea of a partnership between ThyssenKrupp Marine Systems (TKMS), Saab, and Damen Shipyards Group.
