Leonardo and Intermarine to supply Italy with five minehunter vessels

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MILAN (Reuters) – Defence group Leonardo and Immsi’s naval unit Intermarine have signed a contract worth up to 2.6 billion euros ($2.82 billion) to supply Italy’s navy with five coastal minehunter ships, the companies said on Friday.

The contract, which also includes logistics support, is worth 1.6 billion euros for the vessels and 1 billion euros in various other options.

Immsi’s share price jumped more than 16% and Leonardo was up 2.3% after the deal was announced.

Intermarine will produce the 63 metre vessels in its shipyards in Sarzana and will have a 73% share of the contract, with the remaining 27% for Leonardo, the statement said.

The combat and communications systems on the minehunters will be supplied by Leonardo.

The contract is part of the navy’s effort to renew its equipment at a time of “growing international tensions” and increasing maritime threats, the statement added.

($1 = 0.9213 euros)