EDGE entity Abu Dhabi Ship Building (ADSB) and Fincantieri signed an Industrial Cooperation Agreement on the third day of the ongoing IDEX 2023.
Under the terms of the agreement, EDGE and Fincantieri will work together on the design, construction, and fleet management of military and commercial vessels. They will also collaborate to create new business opportunities in the local and international markets with value-added advanced technology solutions.
The agreement was signed by Khalid Al Breiki, President of Platforms & Systems at EDGE and Vice Chairman of ADSB, and Pierroberto Folgiero, CEO of Fincantieri, in the presence of His Excellency Mattar Salem Ali Al Dhaheri, Undersecretary of the UAE Ministry of Defence, Senator Isabella Rauti, Italian Undersecretary of State for Defence, Lorenzo Fanara, Italian Ambassador to the United Arab Emirates, Lieutenant General Luciano Portolano, Italian Secretary General of Defence and National Armaments Director, General Claudio Graziano, Chairman of Fincantieri, Mansour Almulla, Managing Director & CEO of EDGE Group, and David Massey, CEO of ADSB.
“We are very pleased to sign this Industrial Cooperation Agreement with Fincantieri and we look forward to cooperatively pursuing opportunities and providing a more comprehensive offering to our customers both locally and globally,” said Al Breiki.
“The agreement demonstrates the convergence ADSB and Fincantieri’s objectives in the UAE as well as representing an important opportunity to leverage synergies that will allow for joint consolidation and growth process,” said Folgiero. “With the opening of the next NewCo which is fully owned by the Group, this also confirms our strong commitment to strengthening our position and credibility in the UAE.”
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