July 31, 2008
Fincantieri and Lockheed said to be in deal to acquire Manitowoc Marine
Fincantieri is thought to be discussing a possible acquisition of Manitowoc's shipbuilding operations, which include Marinette Marine. According to some sources, who have picked up on a report in an Italian newspaper Il Secolo XIX, a deal is imminent. Lockheed Martin would, according to the Il Secolo report, partner Fincantieri in the acquisition.
Fincantieri is a member of the Lockheed Martin team building LCS 1 at Marinette Marine.
Both Manitowoc and Fincantieri decline to comment. Fincantieri has long been known to have ambitions to acquire a U.S. shipyard and the shipbuilding operations have long been seen as an awkward fit with the other things that Manitowoc does--food processing and cranes.
Stay tuned. Il Secolo thinks there'll be an announcement "in days."