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Bloomberg

Italy's Fincantieri Swaps Cruises for Warships in Defense Pivot

By and Antonio Vanuzzo Save Fincantieri SpA plans to focus some Italian civil and military shipyards on just making warships, in the latest sign that Europe's defense-spending bonanza is reshaping industrial strategy. The state-controlled shipbuilder is preparing to boost its naval capacity and is weighing the roles of two locations in southern Italy, Chief Executive Officer Pierroberto Folgiero said.