Fincantieri and TKMS sign a comprehensive Memorandum of Understanding to elevate their long‑standing cooperation in the underwater domain and intend to establish a collaboration partnership framework by the end of the year.
The agreement aims to enhance European industrial cooperation in the submarine and underwater sectors, promoting a more integrated, competitive and efficient industrial base, for realizing new projects and cost synergies.
The envisaged partnership has a strong focus on technological convergence and long‑term capability development, ultimately benefiting customers, subject to the legal boundaries of cooperation.
Trieste / Kiel, September 01, 2026 – TKMS AG & Co. KGaA (TKMS) and Fincantieri S.p.A. (Fincantieri) have signed a comprehensive Memorandum of Understanding (MoU) aimed at deepening their long‑standing partnership and strengthening European industrial cooperation in the submarine and underwater domain. The two companies intend to establish a Collaboration Framework by the end of the year, subject to the completion of all applicable regulatory processes.
The agreement marks a significant step toward enhancing the European naval defense industrial base through closer cooperation between two leading players in the sector. By leveraging complementary technological strengths, the partnership aims to address the current fragmentation of the European naval industry, particularly in the submarine and underwater domain, and promote a more integrated, competitive and efficient approach to future programs, in accordance with applicable laws. This will support the realization of new projects and cost synergies on both sides.
Oliver Burkhard, CEO of TKMS, says: "Our partnership with Fincantieri demonstrates what European industrial collaboration can achieve when it is built on trust and shared technological excellence. This Memorandum of Understanding once again underscores our commitment to expanding international cooperation amongst the European maritime industry and reaffirms the strengthening of our partnership. By combining our complementary expertise, we can drive innovation, create new opportunities for our customers, and strengthen Europe’s strategic autonomy."
The cooperation between Fincantieri and TKMS places a strong emphasis on technology, innovation, and long-term capability development. Thereby, Fincantieri and TKMS contribute to a more resilient, competitive, and strategically autonomous European naval industrial base.
The MoU provides a framework for enhanced technological cooperation, joint commercial opportunities, and the development of an advanced underwater industrial ecosystem. TKMS and Fincantieri are committed to unlock synergies across the maritime underwater ecosystem and jointly explore international procurement opportunities that can be more effectively addressed through collaboration.
Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, stated: “Together with TKMS, we are building on a longstanding partnership to create new opportunities in innovation, industrial efficiency and technological development. At a time when Europe is called upon to strengthen its defense capabilities, de-fragmentation represents a concrete and pragmatic path towards a more competitive and integrated industrial base. This agreement is designed to leverage complementary strengths and expertise to better serve our customers while contributing to the long-term development of Europe's underwater capabilities.”
The envisaged partnership is designed to explore future opportunities and does not include any merger or acquisition. Both companies will continue to operate independently, with all existing contracts, programs, and projects remaining unaffected.
Fincantieri and TKMS are building on decades of successful industrial and operational collaboration on the 212A and 212NFS submarine classes, which has established a long-standing and trusting industrial partnership between the two companies – a partnership that the new MoU is intended to further strengthen.
This industrial cooperation will be developed in full compliance with applicable competition law, export-control regulations, and all relevant regulatory requirements. Any joint activities will reflect specific customer needs and will be subject to the necessary customer approvals.
Noah Note: Usually I wouldn't post on this stuff, since it isnt really Canadian, however I will use it as a bit of a note on a topic of discussion. Part of TKMS bid was being part of the ecosystem, and being able to, again, be an anchor in the supply chain. Part of that was with expectation tnat these kinds of relationships would be further developed and would have downstream benefits to Canada.
Fincantieri is a step above Navantia here as they've already ebeen engaged with Industry on several fronts, most notably in their MOU with Magellan regarding Torpedo and Undersea Countermeasures. There is more being discussed, but that is the main one.
I think highlighting these developments are important, because these continuing discussions and deeper relationships were very much touted in TKMS bid. They are a significant growth market that Canadian industry will hopefully tap into, especially on the Italian side given the existing alignment and strategic relationship that exists between TKMS and Fincantieri.
Certainly, playing a role in these partnerships was a driver to our decision, and so the execution of them becomes very important for us from an Industrial standpoint. Fincantieri is also the only other company in the board working with Amanox steel in their subs, which is also an important thing to be looking at.
Case-in-point there is a Pan-European Submarine ecosystem being developed and led by TKMS, and being the Anchor there was always the hottest propsect to decision-makers who were watching for these developments. As such, I do feel that keeping tabs on it here is a good thing.
I feel like any significant new or altered partnerships that relate to TKMS will be worth tracking closely. As Canada works toward finalizing our agreement, these advancements to the collaborative framework not only prove that TKMS is the right choice, but may open some other collaboration between Canada and these other partners. We do, after all, have some marine experience. It would be nice to enhance that within an existing framework.