German and Italian shipbuilders agree underwater partnership framework

German shipbuilder TKMS and Italy's Fincantieri have signed a memorandum of understanding to deepen cooperation in the submarine and underwater sectors.

Under the agreement, the two companies plan to establish a collaboration framework by the end of the year, subject to regulatory approvals.

According to the companies, the partnership aims to address fragmentation across the European naval defence sector by leveraging complementary strengths, pursuing new programmes, and realising cost synergies.

They also intend to explore joint international procurement opportunities, while continuing to operate independently with existing contracts remaining unaffected.