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Fincantieri Bolsters Its Diversification

Fincantieri, through its subsidiary Fincantieri Infrastructure, completed the acquisition of the main company branch of INSO – Sistemi per le Infrastrutture Sociali S.p.A., including the subsidiary SOF, part of the Condotte Group, in extraordinary administration since 2018. The acquisition led to the creation of a NewCo, Fincantieri INfrastrutture SOciali, with Fincantieri Infrastructure holding a 90% stake in the share capital, with the remaining 10% held by Sviluppo Imprese Centro Italia SGR SpA (SICI), on behalf of the Tuscany Region.

In this way, Fincantieri bolsters its diversification and business integration strategy. With this operation, the company consolidates its presence in the infrastructure sector, completing a process undertaken some time ago, integrating the Group’s know-how in steel construction and in the management of a complex supply chain as such the shipbuilding one.

This operation brings along approximately 1 billion euros of orders, a significant and international workload of important projects both in Italy and abroad (Chile, France, Greece, Qatar, Algeria). The NewCo will operate in different business areas: infrastructures for healthcare; concessions to provide facility management services, both on its own and third parties sites; and as system integrator in the supply of medical equipment and technologies. Thereby, the workforce of INSO and SOF, currently amounting to approximately 450 people, will be retained.

In this way, the Group will put to good use its competences acquired both at sea and on land, boosting synergies among products and markets, also to the benefit of its core clients, to which the Group can now offer a complete package of services.

Giuseppe Bono, CEO of Fincantieri, commented: “We are pleased to have managed to recover Inso and its subsidiary SOF to the benefit of the country. A company based on excellences that has reaped successes worldwide, but that has risked to suffer the difficulties of the Condotte group. Moreover, we have invested in a sector with very significant and promising developments generated by the pandemic. With this operation, we will further strengthen our leadership and expertise, entering not only the segment of hospital construction, but also the management of the latter and the supply of biomedical equipment”.

The float out of MSC Seashore took place recently at the Fincantieri shipyard in Monfalcone, Italy. 

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