By Mauro Orru 
 

European joint ventures Naviris and Eurosam have secured a contract worth 1.5 billion euros ($1.65 billion) to upgrade French and Italian warships.

The two joint ventures said Monday that they had won the contract from the Organisation for Joint Armament Cooperation, a European intergovernmental body, to modernize the frigates with a new generation of principal anti-air missile system and long-range radar.

Naviris is an equally split joint venture of Fincantieri and Naval Group. Eurosam is a joint venture of Thales and MBDA, in turn a joint venture of Airbus, BAE Systems and Leonardo.

France and Italy's Horizon warships were originally built between 2000 and 2010.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

July 31, 2023 09:58 ET (13:58 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Leonardo (BIT:LDO)
Historical Stock Chart
From Jan 2024 to Feb 2024 Click Here for more Leonardo Charts.
Leonardo (BIT:LDO)
Historical Stock Chart
From Feb 2023 to Feb 2024 Click Here for more Leonardo Charts.