The chairman of Italy's defence and aerospace group Leonardo has floated the idea of a future merger with state-controlled shipbuilder Fincantieri. Speaking at a conference in Milan on Monday, Stefano Pontecorvo said he hoped the two companies could one day combine.
Addressing Fincantieri executive vice-president for operations Claudio Cisilino, who was in the audience, Pontecorvo offered no details beyond expressing his aspiration. "I hope that one day a merger between us might be possible," he said.
Leonardo and Fincantieri, both majority-owned by the Italian state, already work together on several defence programmes. However, previous attempts to explore closer industrial integration have stalled because of political sensitivities and differing strategic priorities.
Fincantieri has recently signalled a stronger focus on expanding its defence business under its latest five-year plan, potentially increasing overlap with Leonardo's core activities. Any merger would likely require complex political approval given the strategic importance of both groups.
The comments mark the clearest public suggestion yet of a possible consolidation between two of Italy's biggest defence and industrial champions (Leonardo is Italy's largest arms builder), even if such a move remains a long-term and uncertain prospect...