(Alliance News) - Fincantieri Spa and Saipem Spa on Tuesday disclosed that they have signed a memorandum of understanding to assess opportunities for commercial and industrial cooperation in the field of autonomous underwater vehicles and related integration with surface and underwater units.

The memorandum is among initiatives aimed at promoting and developing national excellence in the underwater sector, the company explained in a note.

"The agreement aims to enable the participation of the two companies in programs of relevance in the Italian and international market in the field of surveillance and control of critical underwater infrastructure and rescue activities, through the use of specific complementary technologies of Fincantieri and Saipem," as the companies explained.

"The collaboration involves the integration between surface ships and submarines made by Fincantieri and the Hydrone drone development program of Sonsub, Saipem's center of excellence that makes underwater technologies and solutions."

On the one hand, Saipem is the first company in the world to have qualified and commercialized autonomous resident submarine drones for intervention and inspection activities up to 3,000 m depth, designed and industrialized between Marghera and Trieste, and on the other hand, Fincantieri has placed itself at the center of the development programs of the underwater supply chain, with the group having built 180 submarines since 1929, 105 of which at the Muggiano shipyard.

By signing the Memorandum of Understanding, Fincantieri and Saipem intend to position themselves as a reference for the underwater dimension, whose strategic centrality is increasingly evident in the current geopolitical context.

Fincantieri trades in the green 1.3 percent to EUR0.63 per share, while Saipem is up 0.2 percent to EUR2.12 per share.

By Claudia Cavaliere, Alliance News reporter

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