Leonardo and Fincantieri Restructure Shipbuilding Joint Venture

Leonardo and Fincantieri announced a restructuring of Orrizonte Sistemi Navali (OSN) at the Euronaval defense show. Under the revised model, OSN would integrate the full vessel, rather than the partners generally managing separate parts.

Key details

• Fincantieri holds 51% of OSN, while Leonardo holds 49%.
• Fincantieri CEO Pierroberto Folgiero described a target to cut FREMM frigate delivery time by 18 months, from 54 months to 36.
• OSN’s reported projects include the PPX offshore patrol ship class and the FREMM EVO frigate.
• OSN signed a reported €3.7 billion contract with OCCAR for two DDX destroyers for the Italian Navy. The contract covers development, production and initial in-service support.
• Portugal ordered three FREMM EVO frigates from Fincantieri for about €3.9 billion, with deliveries planned for 2029–2030.
• Italy and Greece finalized an agreement to transfer two Carlo Bergamini-class FREMM frigates to Greece. Fincantieri will manage technical transfer and modifications.

Fincantieri CEO Pierroberto Folgiero set a target of reducing FREMM frigate delivery time from 54 months to 36.

Why it matters

OSN’s reported work spans patrol ships, frigates and destroyers, alongside frigate transfers between Italy and Greece. The revised integrator role would place the joint venture across the vessel as a whole, while the delivery-time figure remains a target rather than an achieved result.