Fincantieri Marinette Marine to build Navy’s new frigate

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Posted by of Insight Publications

Fincantieri Marinette Marine was awarded a contract to build the U.S. Navy’s new frigate.

If all options are exercised on the contract, Marinette Marine will deliver the first 10 FFG (X) ships for a total of more than $5.5 billion, according to the U.S. Navy.

Each ship is expected to come with a price tag between $800 million and $950 million. The company has been competing for the contract for two years.

“When we began this journey nearly two years ago, it was with the belief that there was a place for new ideas, new platforms and new partners in an already talented U.S. shipbuilding industry,” Fincantieri Marine Group CEO Dario Deste said in a news release. “Today’s announcement validates that thinking.”

The Navy plans to build 20 ships as part of the future frigate program. Fincantieri will build an adapted variant of the Italian FREMM (European multi-purpose frigate) in Wisconsin at its Marinette shipyard.

“The men and women of Fincantieri Marinette Marine and our partner suppliers throughout the United States are ready to get to work,” Deste said.

Marinette Marine was originally one of five companies vying for the contract. In addition to ensuring work at the shipyard for the duration of the contract, the project is projected to create more than 5,000 direct and indirect jobs to benefit the local workforce.

“This is a big win for our Made in Wisconsin economy right now, and it will support thousands of skilled workers at the Marinette Marine shipyard and bring an additional 1,000 jobs to Marinette as the Navy quickly moves forward with construction of the Frigate,” said Sen. Tammy Baldwin.