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OFFSHORE WIND
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February 12, 2010

Moosally becomes President and CEO of Fincantieri Marine Group

Fred P. Moosally has been appointed President and Chief Executive Office of Fincantieri Marine Group (FMG), a subsidiary of Italy's Fincantieri-Cantieri Navali Italiani S.p.A. FMG is the former Manitowoc Marine Group (Marinette Marine, Bay Shipbuilding, ACE Marine, and Cleveland Ship Repair).

Giuseppe Bono, Fincantieri Chief Executive Officer, commented: "I am very pleased and satisfied that a person with 43 years of distinguished service to the U.S. Navy and defense industry is joining Fincantieri. I am sure that Fred, providing the company's naval activities with strategic vision and leadership, will bring Fincantieri new opportunities for successful accomplishments in the United States."

Mr. Moosally will report directly to Alberto Maestrini, Fincantieri Executive Senior Vice President of Naval Vessels Business Unit, and will be responsible for all Fincantieri Naval Vessels Business Unit activities in the United States. His headquarters will be located in the Washington, D.C., area.

Prior to joining FMG, Mr. Moosally served for seven years as President, Lockheed Martin Maritime Systems & Sensors (MS2). During this time, he led the integration of multiple independent businesses under the MS2 umbrella, and implemented common business processes to facilitate the transfer of knowledge and talent across the enterprise. Under his leadership, the MS2 team achieved seven consecutive years of profitable growth by expanding core U.S. Navy programs to the international community, and by establishing positions in adjacent market spaces, such as the littoral combat ship program and sea based missile defense.

Before becoming MS2 President, Mr. Moosally was President of Lockheed Martin Surface Systems, and also served in business development and strategic planning capacities for MS2.

Prior to joining Lockheed Martin in 1997, Mr. Moosally spent seven years in executive-level government relations and business development positions with Rockwell International and the Standard Missile Company. His move to industry followed a 24-year career in the U.S. Navy during which he held command positions aboard a guided missile destroyer and a battleship, and served as the U.S. Navy's Deputy Chief of Legislative Affairs before retiring in 1990 with the rank of Captain. He is a graduate of the U.S. Naval Academy at Annapolis, and received a master's degree in finance from Central Michigan University.

In March 2005, Mr. Moosally was honored with the U.S. Navy League's Fleet Admiral Chester W. Nimitz Award for his lifetime of service to the nation.


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