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Fincantieri To Acquire U.S. Shipbuilder Manitowac Marine

By Calvin Biesecker Italian shipbuilding company Fincantieri said on Monday that it has agreed to acquire United States shipbuilder Manitowac Marine Group (MMG) for $120 million, expanding the company's naval business overseas. Lockheed Martin [LMT], which is teamed with MMG's Marinette Marine Corp. shipyard on the U.S. Navy's Littoral Combat Ship program, has agreed to be a minority investor with Fincantieri in the pending acquisition. MMG is owned by The Manitowac Company, Inc. [MTW], which plans to focus on its…

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Congress Updates

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