Fincantieri strengthens offshore shipbuilding capability

TRIESTE, Italy – Fincantieri has agreed to acquire 50.75% in the STX OSV shipyard group from STX Europe.

Assuming the deal closes next year, Finacantieri will have interest in 21 shipyards across three continents, nearly 20,000 employees, and revenues of €4 billion ($5.3 billion), which will double its present size. It will also become one of the top five shipbuilders worldwide, and capable, the company claims, of competing with the top four, all of which are South Korean.

STX OSV has about 9,200 employees and 10 shipyards, five in Norway, two in Romania, one in Vietnam, and two in Brazil, of which one is currently under construction. Its order backlog at end-3Q 2012 was €2.1 billion ($2.77 billion).

Its specialties include anchor handling tug supply vessels, platform supply vessels, and offshore subsea construction vessels. It is also a leading builder of research, seismic survey, and ice-breaking vessels.