MILAN, June 13 (Reuters) – Italian state-owned shipmaker Fincantieri aims to make its debut on the Milan bourse in July with a stock market value of up to 1.84 billion euros ($2.5 billion), it said on Friday.
Fincantieri, maker of vessels ranging from luxury yachts to military aircraft carriers, said in a statement it would offer a stake of up to 38.2 percent stake, mostly made up of new shares, at a price range between 0.78 euros and 1 euro per share.
That would value the company, based in the northeastern port city of Trieste, at between 1.57 billion euros and 1.84 billion, and the initial public share offering up to 704 million euros.
The flotation – the bulk of which will be reserved for institutional investors – starts on Monday, the same day as that of UniCredit’s online banking unit Fineco.
Fincantieri is wholly controlled by Fintecna, itself owned by state financial holding Cassa Depositi e Prestiti.
The proceeds of up to 600 million euros from the issue will be used to bolster Financtieri’s finances.
Fintecna can at best cash in 200 million euros from the listing, meaning the Italian treasury does not stand to gain much from the privatisation. ($1 = 0.7345 Euros) (Reporting by Elisa Anzolin; Writing by Silvia Aloisi; Editing by David Holmes)
The Fincantieri formula for success is time-tested. Combine the the best naval architecture and marine engineering minds in the business with expansive facilities and computer-controlled manufacturing equipment. Add to this a seasoned and motivated workforce with a rich history of delivering on time and within contracted costs for both government and commercial vessels. Drive each of these elements with the innovative thinking and enterprising spirit that is the foundation of the Fincantieri
FMG is a subsidiary of Fincantieri, one of Europe’s largest shipbuilders with a track record dating back 200 years and a history of building more than 7,000 ships. Fincantieri is making substantial capital investments in each of the four FMG shipyards in order to take performance and quality to new levels.
The FMG shipyards have a distinguished history of building quality ships. Marinette Marine in Marinette, Wisconsin, was founded in 1942 and has built more than 1,500 vessels for government and commercial clients. Bay Shipbuilding traces its roots in building Great Lakes vessels back to 1918. A new shipyard, ACE Marine, located in Green Bay, Wisconsin, is an all-aluminum shipbuilder and is the builder of the Response Boat Medium for the United States Coast Guard.
FMG offers complete marine solutions. It has a large and experienced naval architecture and marine engineering staff, and provides cost-effective answers to complex marine transportation challenges. FMG’s climate-controlled facilities are modern and expansive, and purpose-designed for maximum manufacturing efficiency under the highest standards of quality control. The FMG workforce is both highly trained and skilled, and committed to safe operation. All of this is backed by a hands-on management team clearly focused on client satisfaction.
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Cruise ships by Fincantieri
The success achieved by Fincantieri in the cruise ships business stems from a long tradition.
Already in the early 1900s the two shipbuilding centres of Genoa and Trieste were unrivalled players at world level building ships which already then stood out for their design, elegant interior furnishings and engineering solutions.
Of the many ships built the Rex is worthy of special mention as possibly the most famous, classical Italian transatlantic liner, the epitome of luxury and elegance. Built at Genoa shipyard, the Rex is remembered for winning the Blue Riband in 1933, having beaten the record for crossing the Atlantic, a record won by few other transatlantic liners.
Fincantieri was one of the first in the 1980s to take up the opportunity of the new trend in the cruise tourist industry and it approached the market by drawing on its experience and prestige acquired in previous decades as builder of transatlantic liners.
The Crown Princess, delivered in 1990, is perhaps one of the most beautiful ships of our time with its dolphin skyline evoking the sea, designed by Renzo Piano. This ship is the forefather of a fleet of over 50 cruise ships built by Fincantieri, flag bearers of technology and design, engineering capacity and creativity.
The leadership gained with a distinctive product “Made in Italy”, is the result of top quality and a privileged relationship with the best international customers.
Our customers, who are mainly the world’s leading cruise companies, know they can rely on an integrated construction system which exploits, in addition to one of the world’s most advanced industrial procedures and processes, a large and qualified network of subcontractors and suppliers who provide furnishings, supply services and create interiors with the care and attention of our best tradition of craftsmanship and the class of all-Italian design.
Thanks to its constant attention to Research and Innovation, Fincantieri continually develops new generations of ships in order to follow, indeed often anticipate, demand from the market and ship owners.
Fincantieri serves all the sectors of the cruise market with a wide range of vessels which includes postpanamax and panamax ships as well as medium-small super luxury vessels or ships for special voyage types (expedition cruise, etc.)
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Availing itself of highly diversified, in-depth technological know-how and skills, Fincantieri is capable of designing and building a full range of merchant ships (chemical tankers, gas carriers, RoRos, ferries, etc.).
The company specialises in the construction of ferries for passengers and vehicles. In this sector Fincantieri provides its customers with a complete range (from cruise ferries to Ropax and High Speed Ferries), together with the capacity to understand the needs of the shipowners designing tailor made vessels within contained construction lead-times.
Fincantieri products benefit from design and construction solutions from cruise shipbuilding. The customer portfolio includes some of the main Italian and foreign ship owners: Grimaldi, Moby, Tirrenia, Finnlines, Tallink, Neptune, P&O Ferries, SNCM, Minoan, to name but a few. Since 1998 Fincantieri has designed and built a fleet of 23 ferries in service for the community, sailing on the new Motorways of the Sea.
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The history of Fincantieri in the field of naval vessels counts over 2,000 vessels built for the Italian Navy and many foreign navies.
Fincantieri is able to design and build a wide range of surface ships, aircraft carriers, frigates, corvettes, patrol vessels, in addition to support ships and submarines.
Ships are assisted throughout the course of their whole life with the provision of logistical support and post sales services as the company is able to guarantee both planning of maintenance and the execution of work of an ordinary or extraordinary nature and refitting at Fincantieri facilities or at a site chosen by the customer.
The company is the reference partner of the Italian Navy for the design, construction and logistical support of the surface fleet and submarines in addition to boasting a consolidated relationship with other State bodies.
Fincantieri has well-proven products, which provide high operating standards alongside optimised costs thanks to the use of design and construction solutions tried and tested in the merchant field.
The company can work as Warship Design Authority and Prime Contractor.
In the naval field Fincantieri provides its customers with a dedicated structure made up of a design centre in Genoa and a flexible, integrated production system of two shipyards at Muggiano and Riva Trigoso.
Fincantieri is partner to some of the main companies in the defence sector within the framework of supranational programmes. The more recent co-operations have included one with the German Submarine Consortium for the construction of submarines for the German and Italian Navies, one with the French company DCN in the Orizzonte and FREMM programmes, and one with the team of Lockheed Martin Corp in the programme of Littoral Combat Ships for the US Navy.
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We’ve built over 7000 ships, so at Fincantieri we know quite a bit about the sea and how to build top-of-the-range seagoing vessels of all types. One of the secrets is understanding their differences. For example, we know that a Mega-yacht is unique, not just a luxurious passenger ship, but rather she’s a very special statement of her owner’s success, sophistication and style.
With this in mind, we made the strategic decision to pursue excellence at the very top of the yacht market and set up Fincantieri Yachts as an autonomous division, totally focussed on building yachts larger than 70 metres (230ft).
We gave them a highly-skilled and dedicated team and made sure they’re supported by Fincantieri’s best in-house experts as well as world-renowned consultants and suppliers.
This gives Fincantieri Yachts all that’s needed to develop the unique technical, industrial, organizational, regulatory and project management solutions required to produce first-class yachts.
We also understand that not all yacht owners have the same ideas. Some want to create, with their own designers, completely new, unique and distinctive vessels, specifically designed to their own vision, and we’re ready to develop and build these projects for them.
But other owners prefer to build upon an exclusive existing design. So, for them, we joined with some of the world’s most prestigious international yacht designers to create five concept designs: “Project Light” 80 metres, “Project Mars” 90 metres, “Project X-Vintage” 99 metres, “Project Armonia” 142 metres and “Project Fortissimo” 145 metres. Although technically detailed, these concept designs are intended to be adapted to any owner’s specific desires.
Why Fincantieri Yachts? Within Fincantieri Yachts, we’ve assembled all of the elements needed to build top-of-the-range mega-yachts, bringing a little bit of Italian magic, to offer yacht owners a construction experience which is smooth, professional and focused on quality as well as being creative, exciting and personally rewarding.
Viale San Bartolomeo, 446
19126 Muggiano (SP) Italy
Fincantieri has been providing services to the Shiprepair and Conversion sector since its launching in 1959. Then, utilising the services of dedicated Companies which were initiated in 1992, Fincantieri established itself as one of the largest direct providers of drydocks and shiprepair services in the Mediterranean. This activity has developed into a specialised Marine Services business unit, which is technically and commercially able to respond quickly and efficiently to client needs and which provides all the required support for ship repair, conversion and other specialised projects.
Dedicated resources for this activity include the large shipyard in Palermo which comprises several workshops, deep quays and drydocks (400,000DWT Max), two docks (250,000DWT Max) at Trieste ATSM, and a dock (40,000DWT Max) at the Muggiano yard in La Spezia.
Fincantieri offers ship owners a wealth of experience encompassing a full range of interventions on all types of vessels which, when required, can be supplemented by the capabilities and resources of the shipbuilding and other divisions within the company.
The shiprepair and conversion business unit also includes steel fabrication for marine, offshore and onshore applications and is evaluating possibilities to diversify into activities which offer synergy with its capabilities, resources and central Mediterranean location.
Fincantieri works as prime contractor in the field of ordinary and extraordinary maintenance, conversion/upgrading providing technical support and assistance in drawing up and managing maintenance programmes, in accurately estimating the length of time the ship will be out of service and in addition, coordinating and carrying out purchasing activities up till execution of the work in the shipyard.
Wide-ranging technical skills and consolidated production and technological capacities enable the company to satisfy all the customer’s requirements, with the guarantee of high quality services and contained delivery time frames.
Comentário LMC: o Grupo Fincantieri é um conjunto de empresas públicas de grande expressão mundial pela qualidade e inovação. Tenho pena que em Portugal o esforço de criação de uma indústria naval moderna desenvolvido a partir da década de 1930, com o Arsenal do Alfeite, o Estaleiro da CUF, Viana do Castelo e todos os outros acabando na Lisnave e Setenave não tenha proporcionado um polo de desenvolvimento semelhante. Em Portugal, quanto mais engenheiros navais formamos no Técnico, menos indústria naval temos. Olhe-se para todos os estaleiros fechados, nomeadamente Viana, olhe-se para a vergonha que é todo o processo do navio de passageiros ATLÂNTIDA, e reflicta-se na necessidade urgente de mudar procedimentos e formas de trabalhar com o interesse público sempre em consideração, ou pensam que alguma vez seremos capazes de regressar ao Mar sem navios e sem meios para os projectarmos, construir e explorar?
Navio de passageiros ATLÂNTIDA, atracado no Alfeite a 14 de Junho de 2014. Fotografia de Luís Miguel Correia
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