Fincantieri, the esteemed Italian shipbuilding group, has announced a pivotal acquisition of Remazel Engineering, marking a significant expansion into the offshore engineering sector. This move aligns with the industry trend of diversifying portfolios to embrace emerging opportunities in offshore technology.
- Strategic Acquisition: Fincantieri has confirmed the acquisition of Remazel Engineering, a leader in offshore engineering. This step is aimed at bolstering Fincantieri’s presence in the offshore sector and follows a trend among shipbuilders to explore new growth avenues amidst varying shipbuilding market conditions.
- Deal Particulars: The terms of the acquisition, set to be finalised by the end of the year, involve acquiring 100 percent of Remazel Engineering’s shares for a purchase price based on a €78 million enterprise value. The transaction is anticipated to close in the first quarter of 2024, subject to customary adjustments.
- Fincantieri’s Vision: With this acquisition, Fincantieri aims to escalate its growth in technological, engineering, and construction expertise within the offshore and subsea sectors. It reflects the company’s strategy to consolidate its position as a key player in complex system integration and a partner across the lifecycle of naval vessels and their equipment.
- Remazel Engineering’s Expertise: Based in Chiuduno, Italy, and with operations across Trieste, China, and Brazil, Remazel Engineering specialises in the design and supply of advanced topside equipment. The company has carved a niche in designing and supplying systems for handling, lifting, and anchoring, as well as launch and recovery solutions for underwater vessels, particularly in the energy transition segment of offshore operations. With over 160 skilled employees, Remazel recorded revenues exceeding €100 million in 2022.
Implications for the Industry
- Diversification and Growth: This acquisition aligns with Fincantieri’s strategy to diversify and strengthen its capabilities, ensuring a stable position in the fluctuating global shipbuilding market. The integration of Remazel’s expertise signifies Fincantieri’s commitment to innovation and growth in the offshore and subsea sectors.
- Enhancing Global Operations: The addition of Remazel to Fincantieri’s portfolio extends its global reach and reinforces its role in fast-growing sectors such as underwater operations and offshore wind. This strategic move positions Fincantieri to cover high value-added activities within the maritime value chain, particularly in areas critical to energy transition.
Fincantieri’s acquisition of Remazel Engineering represents a strategic expansion into the offshore engineering domain, strengthening its role as a global leader in shipbuilding and maritime technology. By leveraging Remazel’s specialised capabilities and global presence, Fincantieri is poised to navigate the evolving dynamics of the maritime industry successfully.
Fincantieri is a global powerhouse in shipbuilding, known for its advanced maritime solutions and innovation in ship design and construction.
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