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14 October 2019 The on-line newspaper devoted to the world of transports 22:31 GMT+2

August 8, 2018

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Fincantieri stops 92% of the capital of the Vard

The term of the offer slips on 24 August. Agreement with Mer Mec in order to acquire the Vitrociset

Today the shipbuilding society Vard has announced that mondays the actions of the society stopped from the Fincantieri Oil & Gas Spa of the Fincantieri group have reached a total of beyond 1,08 billion, pairs to about 91.91% of the total capital stock of the Vard and that the percentage of the share quotas in the hands of other shareholders is therefore come down under 10%. The offer started from the navalmeccanico group Italian Fincantieri for the acquisition of the entire capital of the Norwegian shipbuilding society is in existence with the procedure for the delisting of the controlled Vard from the Stock exchange of Singapore, market in which the Vard title it will be present until on 10 August. Today, moreover, Fincantieri has announced the extension of the period of offer, whose term - fixed in order today - is extended to next 24 August.

While the Italian navalmeccanico group has announced that with Mer Mec, society measure world leader in trains and security systems that Vito Pertosa takes part of the Angel group di, industrial truth high tech who plans and develops solutions to high technology for the Aviation fields, Space, Transport, Survey and Internet of the things, has signed an agreement for the combined and equal acquisition of 98.54% of Vitrociset, society that work in the activities of training and support in within INFORMATION AND COMMUNICATION TECHNOLOGY in the markets of the defense and safety, as well as in the logistics fields, you transport and space.

Vitrociset is active in the planning of systems of automation, command and control, in the activities of test, simulation and training and in the development of systems for given safety and distribution through three businesses unit: Defence & Security, Space & Big Science and Transport & Infrastructure. Fincantieri has specified that Vitrociset strongly addresses to competitive markets and extremely diversified and serves a wide fan of institutional customers, corporate and government agencies, between which the Defense Ministry, the Italian Army, the Been born Support Agency, the European Spatial Agency and Lockheed Martin, in order to cite of only some. The company occupies about 800 dependent and has realized in the 2017 revenues for about 163 million euros, previewed in increase in 2018.

Fincantieri, specifying that the closing it will be subject to the customary conditions previewed for this type of operations let alone to the lacked exercise the golden power by the Italian government, has evidenced that with this operation it will strengthen own pocketbook produced and services in the within of the Services division, having created a center of excellence to highest technological content dedicated to engineering of the systems of defense.

"To acquire a society of the importance of Vitrociset - the managing director of Fincantieri has explained, Giuseppe Bono - a meaningful strategic valence has. This operation in fact, will not only afford us to increase and to upgrade our competences and those of controlled ours that they operate with we in these withins, but will allow us also to widen the range and the quality of our offer and to have approached to a basin of resources highly characterized. This acquisition joins totally therefore in the strategy, already for a long time started from Fincantieri, to strengthen our competences in order to supply to our customers the indispensable logistic support for the operativity of the military ships".

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