Cooperation between the Italian state shipbuilding company Fincantieri and German industrial conglomerate Thyssenkrupp for the construction of submarines is a good opportunity to talk about future consolidation in the European defence sector, said Friday the General Manager of the Italian shipbuilder Alberto Maestrini.
Wednesday reported that Thyssenkrupp was exploring several strategic options for its naval units, ranging from combining it with the Italian Fincantieri and ending with the establishment of the national leader of the shipbuilding industry with German colleagues.
Maestrini, speaking on a conference call with analysts, said that all of the current discussions with Thysenkrupp were limited to submarines, adding that cooperation represents "a good opportunity to talk about scenarios of future European consolidation".
"European players do not have the necessary critical mass to compete with very large international competitors and to create financial and operational synergies, necessary for competitiveness in exports," he said.
