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Italy’s Fincantieri, Leonardo sign MOUs in Greece

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Athens, Greece (Ports Europe) February 14, 2023 – Italian companies Fincantieri and Leonardo have signed a number of Memorandum of Understanding (MoUs) with Greek companies. This is part of a strategy of Italian companies to develop long term business relationships with Greek companies.

The signing event took place in Elefsis, where the Onex Elefsis Shipyards is based. Last December, Fincantieri signed an agreement with ONEX Shipyards & Technologies Group for the creation of a corvettes manufacturing line & a life-cycle support base. The work will take place in the Onex Naval and Maritime Elefsis Shipyards. Other companies in this field would become part of a local supply ecosystem. The Italian companies MBDA Italia and Elettronica are also involved.

The Fincantieri-ONEX agreement:

  • provides the terms of collaboration for the construction of 2+1 state-of-the-art technology and top-standard corvettes at Onex Elefsis Shipyards along with the necessary upgrades, improvements, know-how & transfer of technology, equipment, which are estimated at approximately euro 80 millions;
  • is expected to generate the creation of 2,500 direct and indirect new jobs in the shipbuilding industry;
  • constitutes a cooperation with multiple benefits for the Greek economy and defense sector, while enhancing the prospect of further cooperation between the two Groups in future construction programs of warships and commercial ships.

The agreement was an important step in the empowerment of the domestic defense production. The know-how that will be acquired through the ONEX-Fincantieri collaboration, that involves the whole Italian industrial ecosystem, will be an important cornerstone for the development of competitive products that will meet the defense requirements of various markets.

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