The agreement consolidates cooperation in the naval defense sector and aims to leverage the two Groups’ industrial and technological expertise in domestic and international markets

Trieste/Rome, November 3, 2026 – During Euronaval, Europe’s leading naval defense exhibition currently underway in Paris, Fincantieri and Leonardo signed a Letter of Intent (LoI) aimed at, among other things, further strengthening the role of Orizzonte Sistemi Navali (OSN), a joint venture owned by Fincantieri (51%) and Leonardo (49%). Representing the companies were Fincantieri’s Chief Executive Officer and Managing Director Pierroberto Folgiero and Leonardo’s Chief Executive Officer and General Manager Lorenzo Mariani. 

The event was attended, on behalf of Fincantieri, by Chairman Biagio Mazzotta, General Manager of the Naval Vessels Division Eugenio Santagata, and Senior Vice President Naval Product Development and Partnering, Adm. Matteo Bisceglia; on behalf of Leonardo, Electronics Division Managing Director, Marco De Fazio and Chief Strategy & Technology Officer Angelo Pansini, and on behalf of Orizzonte Sistemi Navali, by Chairman Adm. Enrico Credendino and Chief Executive Officer Giovanni Sorrentino.

The agreement sets out the guiding principles for the future of the collaboration between the two Groups, with particular regard to strengthening OSN’s industrial and commercial role, developing opportunities in domestic and international markets, and leveraging their respective technological capabilities. The agreement aims to further consolidate OSN’s position as a benchmark for the integration of naval platforms and combat systems, including in response to the growing technological and operational complexity of defense programs.

The main programs OSN is involved in include the new-generation DDX destroyers for the Italian Navy, the new FREMM EVO frigates currently under construction, the Italian and international Legacy FREMM frigates, as well as logistics support programs for FREMM frigates and other Italian Navy units, and four Offshore Patrol Vessels (OPV). These programs confirm OSN’s role as Prime Contractor in developing Italian naval capabilities and in leveraging the two Groups’ industrial and technological expertise. 

Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, commented: “In a rapidly changing geopolitical landscape, the ability to develop strategic industrial partnerships is a key driver for strengthening the competitiveness and international standing of the Italian defense industry. Today’s agreement confirms the value of cooperation between two of the country’s leading companies, capable of realizing significant potential in both the domestic and international markets. The strengthening of Orizzonte Sistemi Navali represents a further step in this direction, with the ambition to leverage the complementary nature of our expertise, consolidate our ability to respond to the needs of navies, and help establish Italy’s role as a key player in the evolution of global naval defense.”

“The signing of this agreement further confirms that the defense industry is capable of combining its expertise to meet the needs emerging at the global level. Digitalization, artificial intelligence, autonomous systems, advanced sensors, and new capabilities for processing and sharing data are redefining requirements, timelines, and operating procedures. In this context, industrial powerhouses such as Leonardo and Fincantieri play an essential role in supporting the country's technological autonomy and competitiveness with a forward-looking strategic vision,” added Lorenzo Mariani, Chief Executive Officer and General Manager of Leonardo.