Italian Shipbuilder to Take Majority Stake in STX France

Italian shipbuilding company Fincantieri will take over STX France, after Italian and French governments agreed on a shared ownership agreement on Wednesday, 27 September. 

The deal comes as the two governments decided to launch a joint process paving the way for the future creation of a progressive alliance in the naval defence sector.

Namely, France and Italy aim to establish a joint naval defense group by merging the new STX owner Fincantieri with the French military shipyards company Naval Group.

Under the STX France takeover deal, Fincantieri will hold a 50% stake in STX, while the French state will hold 34.34%, Naval Group 10%, STX staff 2% and STX local suppliers 3.66%, Reuters reported.

Whether the takeover will affect STX France’s business in the offshore wind sector remains unknown. Offshore WIND contacted STX France for a statement on the matter and is awaiting reply.

STX France has been involved in offshore wind by building offshore substations for European projects. The most recent substation work the company has been carrying out is that for the Arkona offshore wind farm in Germany and Rentel offshore wind farm in Belgium.

The company has also recently launched a Scalable Efficient Evolutive Offshore Station (SeeOs), described as a turnkey solution to the offshore wind market that will reduce energy costs by decreasing delivery time and saving CAPEX and OPEX costs.

Offshore WIND Staff

Photo: Image: STX France/ archive

Related news

List of related news articles