Initial contract covers materials and engineering for the first four vessels under a 35-ship program

Following the announcement made by the U.S. Navy on February 18, 2026, regarding the issuance of a Request for Proposal (RFP) for the Medium Landing Ship (LSM) program – covering up to 35 vessels – and stating that Fincantieri Marine Group (FMG) will execute the construction of four units, Fincantieri announces that its U.S. subsidiary has been awarded a $30 million contract for materials procurement and engineering activities for these first four vessels, formally initiating the first phase of the program and representing the first concrete step toward its execution.

The award supports the immediate procurement of long lead time materials and the execution of engineering and critical industrial and production readiness activities for the first four vessels, enabling a start of construction as early as Q4 2026.

This step represents a material acceleration for the LSM program and precedes a future award of construction contracts through the Vessel Construction Manager (VCM) model, subject to applicable approvals and contractual arrangements.

The LSM program is a foundational element of the U.S. Navy’s fleet and of the U.S. Marine Corps’ force design, enabling distributed operations, enhanced littoral mobility, and the rapid maneuver and sustainment of forces in contested environments. Within the initial production phase, FMG is designated to build at least four vessels, reinforcing its role as a central industrial player in the program’s execution.

Commenting on the announcement, Pierroberto Folgiero, CEO and Managing Director of Fincantieri, stated: “The award of this contract represents an important step in the evolution of our long-standing partnership with the U.S. Navy. It reflects the confidence placed in the industrial capabilities built in the United States and in our ability to support complex naval programs with discipline, speed, and technical excellence. Through sustained investment, a skilled workforce, and a resilient industrial base, Fincantieri stands ready to support the Navy as they advance new operational concepts and future force requirements.

By adopting the VCM model, the U.S. Navy is reshaping naval shipbuilding through the application of commercial best practices, parallel production, and disciplined industrial execution. In this context, Fincantieri brings a uniquely scaled industrial platform in the U.S., combining advanced shipyard infrastructure, production depth, and globally integrated technical expertise to deliver complex naval programs with certainty and momentum.

Over the past decade, Fincantieri has committed more than USD 800 million to its U.S. shipyards, transforming them into one of the most advanced and capable shipbuilding networks in the country. These investments underpin the Group’s ability to support multiple naval programs concurrently and to respond rapidly to evolving operational requirements.

Fincantieri Marine Group possesses a workforce of approximately 3,000 skilled U.S. workers and continues to enhance its human capital, industrial footprint, and technological capabilities to support the U.S. Navy’s long term operational ambitions and the sustained growth of the American maritime industrial base.

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Fincantieri is one of the world's largest shipbuilding groups, the only player active in all high complexity marine industry sectors. The Group is a leader in the construction of cruise ships, naval and offshore vessels, and stands out for its extensive experience in the development of underwater solutions, thanks to its integrated industrial structure capable of managing and coordinating all activities related to the commercial, defense, and dual-use sectors.

It holds a strong presence in key markets also thanks to the internalization of high value-added, distinctive technologies; it is also a leader in sustainable innovation and in the digital transformation of the shipbuilding sector. The company is active in the field of mechatronics, electronics, and digital naval systems, as well as in cybersecurity, artificial intelligence, and marine interiors solutions. It also offers a wide range of after-sales services, including logistic support and fleet assistance.

With over 230 years of history and more than 7,000 ships built, Fincantieri is a global player with a production network of 18 shipyards worldwide and over 24,000 employees; It maintains its know-how, expertise and management centers in Italy, where it directly employs approximately 13,000 workers and creates around 90,000 indirect jobs.

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