Fincantieri points to Saint Nazaire, but aims to DNCS?
date: 1/5/2017
Fincantieri's bid to gain control of the Group STX France, French branch of the South Korean conglomerate STX, STX Europe that controls the glorious Saint Nazaire Loire shipyards, one of the largest building sites of the Atlantic, has been judged fair by a court in Seoul. The Italian Shipyard, now the largest shipyard in the world in terms of technology and the fourth dimension, is preparing to enter the French market aiming at 66.6% of STX France and challenging that way Paris on land, shipbuilding, online strategy always France. The move by Fincantieri, who have long pointed to an expansion in France, was made possible by the bankrupt STX, due to the severe crisis of the whole offshore industry caused by the collapse in oil prices, which had been in receivership since last may, and may carry extensive consequences for the European shipbuilding industry. The group led by SUCH Bono aims to take control of Saint Nazaire shipyard specializing in the construction of cruise ships and passenger vessels, but the pipeline that also has the ability to produce large ships, like the MISTRAL class amphibious assault unit 2 produced originally for Russia and then sold to Egypt. In this way the company could enlarge its perimeter, Fincantieri more necessary than ever now to deal with spikes in production due to the Naval Law and the large contract for Qatar, or get rid of a dangerous competitor on the civilian market. However, the feeling is that the goal of Fincantieri is another. Or "flush out" the French State, which controls 33 percent of STX France and therefore could oppose the sale, and set a wider discussion involving French military state of DCNS shipbuilders also with which Fincanieri already cooperates in programmes FREMM and horizon. It would involve a wide-ranging discussion, which falls into a broader design of consolidation of the European shipbuilding industry, in which Fincantiri has a card to play Pier important: its dimensions of group for over 20,000 employees with shipyards in various countries of the world, a strong presence in the United States with Marinette Marine shipyard, Sturgeon Bay and Green Bay and in the program of the US Navy LCS (Littoral Combat Ship) and increasingly balanced portfolio thanks to the growth in the military made possible by the aforementioned Naval Law and the large contract for Qatar, which not coincidentally the same France hindered until the last in all ways. A significant obstacle to this drawing is, however, the nuclear component of DCNS, which the French State considers untouchable and that is non-negotiable and that must be must be kept separate from the remaining assets of DCNS.
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Note: RID is one the best Italian Defence magazine on paper (the web site is also not bad)
