Latest news with #Maestral
Trade Arabia
24-02-2025
- Business
- Trade Arabia
EDGE, Fincantieri enter deal on underwater systems
EDGE, one of the world's leading advanced technology and defence groups, and Fincantieri, one of the world's leading groups in high-complexity shipbuilding, have signed a new memorandum of understanding (MoU) that extends and builds upon the agreement signed in November 2024 in Paris in the rapidly evolving underwater domain. This enhanced cooperation aims to further strengthen the partnership between the two companies, through their Abu Dhabi-based shipbuilding joint venture Maestral. The MoU is based on both companies collaborating to develop underwater technologies, supporting the United Arab Emirates (UAE) in becoming a regional pioneer in underwater technology innovation. EDGE and Fincantieri's cooperation will be focused on the design, development and creation of unmanned systems for critical underwater infrastructure protection and seabed mapping, next-generation submarines, drone-carrier ships, and lightweight torpedoes. This agreement comes amidst a rapidly evolving landscape for national defence. New threats and vulnerabilities are changing global dynamics, intensifying geopolitical rivalries, and increasing demand for investment in maritime defence. Critical underwater infrastructure has become a target due to its exposure to threats and can only be protected with advanced technological solutions, highlighting the pressing need for governments to invest in this sector. Building on their existing partnership through Maestral, this MoU will allow both companies to share knowledge, technical expertise and production resources to develop state-of-the-art products suitable for the challenging and complex environment of the underwater environment. Hamad Al Marar, Managing Director & CEO of EDGE Group, said: 'Through Maestral, EDGE and Fincantieri are advancing world-class underwater capabilities that will play a pivotal role in the future of subsea security and maritime defence. This partnership marks a significant step in positioning the UAE at the forefront of this strategically important domain, strengthening its role as a regional pioneer with globally competitive expertise. As underwater technologies become increasingly vital to national security, we are committed to driving innovation, enhancing sovereign capabilities, and setting new industry standards in this high-potential sector.' Pierroberto Folgiero, Fincantieri CEO and Managing Director, stated: 'Since 1909 Fincantieri has a long-standing history in submarine construction, and has already established itself as a pioneer in the underwater sector, leveraging decades of systems integration expertise and cutting-edge innovation with a 'dual' focus either in the military and in the civilian space. The underwater domain is projected to reach $400bn by 2030 as defence public needs for countries globally are rapidly evolving. Through MAESTRAL, we are pleased to support the UAE's ambitious naval strategy and alongside a trusted partner like EDGE, we will seek to deliver ground-breaking underwater solutions to meet future needs for its national capabilities.' -
Trade Arabia
17-02-2025
- Business
- Trade Arabia
EDGE-Fincantieri JV wins €500m UAE Navy support contract
EDGE, one of the world's leading advanced technology and defence groups, and Fincantieri, one of the world's leading groups in high-complexity shipbuilding, announced today that Maestral, their Abu Dhabi-based shipbuilding joint venture, will be awarded a major 'In-Service Support Strategic Partnership Project' for the entire UAE Navy fleet by Tawazun Council. Tawazun Council is an independent government entity that works closely with the Ministry of Defence and security agencies in the UAE. The value of the agreement is of approximately €500 million over a five-year period. The contract award announcement was attended by Hamad Al Marar, Managing Director & CEO, EDGE Group; Rodrigo Torres, CFO, EDGE Group; Biagio Mazzotta, Chairman of Fincantieri; Pierroberto Folgiero, CEO and Managing Director of Fincantieri, and Dario Deste, General Manager of the Naval Vessels Division of Fincantieri. Maestral will serve as the Industrial Strategic Partner, overseeing comprehensive maintenance management of the UAE Navy to meet key operational and logistic needs, and supporting UAE Navy's transformation journey to new levels of performance over the next five years. Al Marar said: 'This contract award underscores the trust placed in MAESTRAL's advanced capabilities by our major customer, and important stakeholders worldwide. Together with Fincantieri, we are fully confident that these capabilities will provide valuable opportunities from which this unique joint venture can utilise its vast resources and pool of experience available to deliver superior maritime vessels, turnkey solutions, and lifecycle maintenance services, to deliver commercial successes to all partners involved.' Folgiero stated: 'This contract marks a pivotal step in Fincantieri's growth in the region and reinforces our long-standing commitment to fostering industrial partnerships that deliver excellence. It also reflects the shared vision and synergy between Fincantieri and EDGE through the MAESTRAL joint venture. We are proud to stand alongside the UAE Navy as a trusted partner, ensuring sustained support, cutting-edge technology, and world-class maintenance services that meet the evolving needs of modern naval operations'. The ISS Strategic Partnership Project will see a close collaboration between Fincantieri and EDGE Group entity, Abu Dhabi Shipbuilding (ADSB) under the Maestral joint venture. This unique joint proposition will leverage the combined capabilities of UAE national and international advanced shipyards, deploying a full range of technical, engineering and management expertise to enhance the quality and performance of the UAE Navy.
